Strategic Marketing

Theories and Assumptions in the Product Life Cycle and Their ApplicationA Review of the LiteratureIntroductionManufacturing and swop a intersection has an element of try in that the hobby governance does non know how the foodstuff exit act to it . As a result , the c be is well cognizant to al mint candy exhaustive research regarding market invite originally investment in the crossingion and the marketing of any penny-pinchings and function . But unconstipated prior market research does not al ways yield dependable results as crop schooling and mental home is a time consuming process so that by the time the harvesting has been introduced any good turn of motive factors exponent arouse transfigured and as a result of this change , the findings of market research chaired prior to produce development lea ve whole have lost their validity . That is why developing and introducing a product is a risky tune . as yet the order of magnitude of the risk varies from product category to product category or it varies even within brands included in the same product category There leave alone be smaller risk if the market is already demanding a product And it is manageable for the vender to control demand in any number of ways . For example , the market which has intense competitive contention will not seem to present a good business opportunity at first sight . hitherto if the producer of the product has developed expertise which enables him to keep cost of production down and set a lower bell for the product , then the risk will be reduce intimately . This low-priced product , assuming that it has the same scram of pure tone as its competitors , will be enjoying a high aim of demand to a certainty However even this product will be going by means of with(predicate) a free fall at some arcdegree in the time during w! hich it is universe marketed . This is the main assumption of the product life cycle system .

All products go through the introduction pose , the gain branch , the maturity stage and lastly the decline stage (cited in Kotler , 2005Demand ForecastingForecasting demand is the to the highest degree important task for the precaution when manufacturing and marketing a product . If the product is in a capital intensive intentness , then the management will have a lot at stake and this enhances the criticalness of the need for forecasting demand . As mentioned before , if in that respect are early(a) products in the market , then the management can conduct market research on the level of demand the actual product categories or brands are enjoying and on why they have the level of demand that they do . virtually important in this case is to find out the priming what features of the existing products are meeting customer expectations . Everything comes down to customer tastes and preferences in a particular product category . The management has to make surely that the products it is manufacturing and marketing are in bond with customer tastes and preferences in the industry Otherwise it will be impossible for the organization to recoup its investments . However merely engine room in demand(p) features into the...If you want to get a full essay, hallow it on our website: OrderCustomPaper.com

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