Answered: Please share your thoughts and your…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Please share your thoughts and your understanding about the role of the Product life cycle model in Marketing Management? Kindly use your own words. Thank you

Expert Solution

Step 1: Define marketing management

Note: The answer has been framed in a generalized manner.

When it comes to creating a flow in the market, marketing management is like a person who creates it. Those things include combining plans, innovative methods, and data-driven decisions in a compatible manner. The process involves carefully creating and carrying out strategies to highlight the benefits of a good or service to the appropriate audience at the appropriate time. This calls for an in-depth knowledge of market dynamics, competitive environments, and customer behavior.

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