- Created by: finleyyy
- Created on: 30-01-20 09:47
Product Life cycle- https://www.tutor2u.net/business/reference/marketing-product-life-cycle
Introduction - Growth - Maturity - Decline
Before decline, you get saturation which indicates the start of decline. This warns businesses. You can map out and predict your products life cycle.
You can use extension strategies to make it last longer. For example-
- Advertising- reach out to new customers
- Change packaging- make it look new
- Launch into a new market
In each stage you should-
- Introduction- Free samples/products, attend events to do samples, invest in advertising- above the line, mass media, generate publicity, get sponsorship.
- Growth- Use images to compare and show…