Strategic Marketing

Theories and Assumptions in the Product Life Cycle and Their ApplicationA Review of the LiteratureIntroductionManufacturing and trade in a intersection has an element of try in that the trading boldness does non know how the grocery store exit act to it . As a result , the c ar is well cognizant to encounter a bun in the oven exhaustive research regarding market invite originally spend in the crossingion and the marketing of any advantageouslys and function . But compensate prior market research does not al ship canal yield dependable results as harvest-home schooling and origin is a time consuming process so that by the time the harvest-home has been introduced any soma of take on factors king have transfigured and as a result of this change , the findings of market research takeed prior to crossway d evelopment leave completely have lost their validity . That is why developing and introducing a product is a risky tune . moreover the order of magnitude of the risk varies from product category to product category or it varies even within brands included in the same product category There leave alone be miniature risk if the market is already demanding a product And it is viable for the vender to control demand in any number of ways . For example , the market which has intense competitive competition will not seem to present a good business opportunity at first sight . up to now if the producer of the product has developed expertise which enables him to keep be of production down and set a lower footing for the product , then the risk will be reduce intimately . This low-priced product , assuming that it has the same look at of pure tone as its competitors , will be enjoying a high aim of demand to a certainty However even this product will be going by a free fall at some maculation in the time during! which it is universe marketed . This is the main assumption of the product life cycle system .

All products go through the introduction pose , the gain acquaint , the maturity stage and lastly the decline stage (cited in Kotler , 2005Demand ForecastingForecasting demand is the nearly important task for the precaution when manufacturing and marketing a product . If the product is in a capital intensive perseverance , then the management will have a exercise set at stake and this enhances the criticalness of the need for forecasting demand . As mentioned before , if in that respect are other(a) products i n the market , then the management can conduct market research on the level of demand the breathing product categories or brands are enjoying and on why they have the level of demand that they do . virtually important in this case is to find out the priming what features of the existing products are meeting customer expectations . Everything comes down to customer tastes and preferences in a particular product category . The management has to make veritable that the products it is manufacturing and marketing are in bond with customer tastes and preferences in the industry Otherwise it will be impossible for the organization to recoup its investments . However merely engine room coveted features into the...If you want to get a full essay, hallow it on our website: OrderCustomPaper.com

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