The life cycle is nothing more than the pattern of demand for the product over time. A basic product life cycle consists of: Introduction Growth Maturity Decline stage Several points are to be noted in studying the product life cycle concept: 1. The length of time a product spends in any one stage may vary. […]
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Marketing Strategies for the Introduction Stage of the Product Life Cycle
In the introduction or pioneering stage, the main task is to acquaint the customers with the new product and its superiority over other similar products available in the market. In order to achieve this purpose, arrangements will have to be made to make the product available to the customers in the market place through dealers […]