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Notes 4-2-08 - Notes Chapter 10 Cont'd Introductory Stage...

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Notes 4-2-08 Chapter 10, Cont’d Introductory Stage - high failure rates - little competition - frequent product modification - limited distribution - high marketing and production costs - negative profits with slow sales increases - promotion focuses on awareness and info - communication challenge is to stimulate primary demand In Europe, Nordic countries are quicker to adopt new products than other countries. They are technologically advanced, knowledgeable, affluent, and homogenous. Growth Stage - increasing rate of sales - entrance of competitors - market consolidation - initial healthy profits - aggressive advertising of the differences between brands - wider distribution Maturity Stage - sales increase at a decreasing rate - saturated markets - annual models appear - lengthened product lines - service and repair assume important roles - heavy promotions to consumers and dealers - marginal competitors drop out - niche marketers emerge Decline Stage - long-run drop in sales - large inventories of unsold items -
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