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In this site we are going to explain to you some of the marketing strategies. Our website is used to help young marketers and also the well experienced ones more about marketing and it's strategies. 






1st Strategy:
Product Life Cycle strategies 

The reason why there is a product life cycle strategy is because the management could be aware that each product most have a life cycle. In this cycle exists five stages, and your about to find out what each stage is about. The product life cycle is the course of a product’s sales and profits over a life time. 

The reason why we have a product life cycle is because products have a limited life, and the price sales need to pass through different stages, where the profits raise and fall and requires different strategies in each stage. It is basically a period of time over which an item is developed, brought to a market and eventually removed from the market. 


Marketing strategies in the product life cycle: 

-Inform potential costumers 

-Secures distribution 

-Sets price strategy 

-Induces product trail 








Some of those stages include: 

Growth stage:


This stage occurs because the new products have satisfied the market. Therefore, this stage is when sales will start climbing quickly. It Is the period of rapid market acceptance and increasing profits.In this stage the awareness and sakes increases and so competitors start to challenge.  This stage is mostly a sense of improvement of the product quality and new features where they add new models, and new segments and overall increase the distribution.




Marketing strategies in the Growth stage: 

-Expands distribution channels

-Enters in new market segments

-Shifts promotion strategies

-Reviews price strategies

-Improves product qualities

-Adds new product features 


EFFORT...












Maturity Stage:

It is a Period of slow down in sales growth because the product has achieved acceptance by most potential buyers. In this stage sales reach peak, the cost that supports the products declines, and the market share tend to be higher and increase competition. This stage is mostly an increase of line extensions, and therefore the advertisements in this stage increases and pursue new customers.



Marketing strategies in the Maturity stage: 

-Reduces Price 

-Product modification

-New channels of distribution 

-Market modification 

-shifts promotion strategy 


SUCCESS!














To know if you understood your product life cycle heres some questions you should know how to answer, take a piece of paper and start to see if you know your material. 


1) What is the product life cycle? 

2) Name one marketing strategy in the two stages of the product life cycle strategies 

3) What is the importance of each stage ? Meaning what the stage main focus ?

4) Why is important to have a product life cycle and what could potentially go wrong without them ? 


If you answered those questions right you successfully understood, way to go marketers!









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ANSWERS:

1-It is basically a period of time over which an item is developed, brought to a market and eventually removed from the market. The reason why there is a product life cycle strategy is because the management could be aware that each product most have a life cycle. 


2- Growth stage:-Improves product qualities

Maturity stage: -shifts promotion strategy 


3-The main focus of the growth stage is improvement, it is a stage where theres a rapid increase in profits and sales climb up quickly. 

The main focus of the Maturity stage is important in advertising, in this stage the sales reach peak, therefore the competition increases. 


4- It is really important to have a product life cycle because its the course of a product’s sale and profit over a life time. Products have a limited life, and the price would rise and fall and without a cycle there would be no order and no reason to why we have products. The product life cycle is a way to organize and the management would be aware that each product they have need to go through the cycle. Without this cycle there would be no development, and just be chaos to everyone.