Product Lifecycle

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  • Created by: ARaee
  • Created on: 25-10-18 19:40

Product Lifecycle - 

Intrduction

Growth

Maturity

Decline

Saturation

Key definitions 

Purpose of Marketing - Attraction of customers and to create interest

Marketing Mix - Price , Production , Promotion , Place

  • Products : The different range of goods/ services a business chooses to sell
  • Price ; How much a product costs
  • Promotion ; Rasing awareness of a product eg . Advertising, Sales Promotion, Direct Marketing and sponsorship.
  • Place : The suitable place to sell a product.

Importance of identifying customers- Identifying who the customer is and their needs

Market Segmentation - Who the product is aimed at 

MMarket Research - Ways to find out what a customer wants

Primary Research - Gathering new…

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