Features new market segments and distribution

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Unformatted text preview: otion and manufacturing costs gain economies of scale •  Product quality increases •  New features •  New market segments and distribution channels are entered Produce Life Cycle Strategies Growth stage Strategies: •  Continued education and brand awareness campaigns •  E.g. demonstrations, events, as many communication mediums as possible •  Price stability or decline to increase volume Produce Life Cycle Strategies Maturity stage A long-lasting stage of a product that has gained consumer acceptance •  •  •  •  Slowdown in sales Many suppliers Substitute products Overcapacity leads to competition 4 2013/04/01 Produce Life Cycle Strategies Maturity stage Strategies: •  Increased promotion and R&D to support sales and profits •  Reminder communication campaigns •  Competitive communication campaigns (highlighting differentiation) •  Market modifying •  Product modifying •  Marketing mix modifying Produce Life Cycle Strategies Decline stage When sales decline or level off for an extended time, creating a weak product •  Maintain the product...
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