Question

1. Draw the complete Market Life-Cycle Curve.

Label each stage by its Customer Traits

Label each stage by Market Phase

Label each stage of Product strategy by market phase

Label each Pricing Strategy by market phase

Put in the Distribution Strategy for each phase of the market phase

Marcom strategies by market/customer phases

Answer 1

Different strategy in the differnent pahse are:

Product introduction strategies:Marketing strategies used in introduction stages include:

• rapid skimming - launching the product at high price and high promotional level
• slow skimming - launching the product at high price and low promotional level
• rapid penetration - launching the product at low price with significant promotion
• slow penetration - launching the product at a low price and minimal promotionProduct growth strategies:Marketing strategies used in the growth stage mainly aim to increase profits. Some of the common strategies to try are:improving product quality,enter new markets segments,keep pricing as high as is reasonable to keep demand and profits high,increase distribution channels to cope with growing demand. Product maturity strategies:market modification ,product modification.Product decline strategies;reduce your promotional expenditure on the products,fin another use for the product,implement price cuts to get the customers to buy the product,etc