For this professional assignment consider the four (4) stages of the product life cycle (introductory, growth, maturity, and decline) for the company you selected in DQ Week 3 and: Define your marketing objectives under each one of the four stages. Explain how you will use the marketing mix to create your marketing strategy under each one of the four stages. Discuss the level of competition under each stage as you develop your strategy. Discuss how cultural context and location of the marketing strategy affects the product life cycle stages. Ensure that you support your response with at least two (2) peer-reviewed sources plus the textbook. If possible, use resources outside of the USA and include perspectives from different countries, contexts, and cultures.
For this professional assignment consider the four (4) stages of the product life cycle (introductory, growth, maturity, and decline) for the company you selected in DQ Week 3 and:
- Define your marketing objectives under each one of the four stages.
- Explain how you will use the marketing mix to create your marketing strategy under each one of the four stages.
- Discuss the level of competition under each stage as you develop your strategy.
- Discuss how cultural context and location of the marketing strategy affects the product life cycle stages.
Ensure that you support your response with at least two (2) peer-reviewed sources plus the textbook. If possible, use resources outside of the USA and include perspectives from different countries, contexts, and cultures.
I selected Samsung company.In this I m going to tell about the Samsung company product life cycle.I will take one product of Samsung company as an example to explain Samsung product life cycle.My selected product is "Samsung mobiles".There stages are -
1.Introductory stage - In introductory stage samsung company focus on the new series or mobiles to launch in the market with updated features.
2.Growth Stage - In growth stage samsung company update their old mobile with the new features and modify them for sale in the " samsung market as market environment.
3.Maturity stage - In maturity stage Samsung company attack with the new features and modify the applications,name and launch new smart phones.
4.Decline stage - In decline stage Samsung mobile are rejected by customers and company face loss or less profit then production then this stage Samsung launch new mobiles in the market with lot of modifications.
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