Product life cycle: It includes four phases that a product progresses through during its life cycle. The phases includes: Introduction The product awareness is built and market of product is developed. Marketing mix is been used to help impact target market. Quality level as well as product branding is established. Growth The brand preference is built and market share is increased. The quality of product is increased and additional features are added. The increase in demand allows price to remain constant. Maturity The growth in sales diminishes. Similar products would show competition. The primary aim is to defend market share with maximizing profits. Some companies would enhance features of product for differentiating market product. Decline Sales begin to decline at this stage. It can maintain product by addition of new features and finding new uses. It can reduce cost and continue offering it. It can disconnect product and sell it to another inventory who willing to continue with product.

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Chapter B, Problem B1.5MBD

Program Plan Intro

Product life cycle:

It includes four phases that a product progresses through during its life cycle.

The phases includes:

Introduction

The product awareness is built and market of product is developed.

Marketing mix is been used to help impact target market.

Quality level as well as product branding is established.

Growth

The brand preference is built and market share is increased.

The quality of product is increased and additional features are added.

The increase in demand allows price to remain constant.

Maturity

The growth in sales diminishes.

Similar products would show competition.

The primary aim is to defend market share with maximizing profits.

Some companies would enhance features of product for differentiating market product.

Decline

Sales begin to decline at this stage.

It can maintain product by addition of new features and finding new uses.

It can reduce cost and continue offering it.

It can disconnect product and sell it to another inventory who willing to continue with product.

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