This article explains how Price Elasticity of Demand (PED) is likely to change through the different stages of Product Life Cycle (PLC). It should be fun!
Posts published in “MARKETING MIX – PRODUCT”
Figure out how to promote a product in different phases of its life. The following descriptions summarize some of the Promotion Mix options.
Marketing managers need to be aware of major uses of Product Life Cycle (PLC). They need to make during different phases of the product life cycle.
Extension strategies are means of lengthening the life of a product to delay its decline; attempts to prolong Product Life Cycle (PLC).
There are different stages of Product Life Cycle (PLC). Each stage is likely to have a very different investment, sales revenue, profit and cash flows.
As all products have a very specific life cycle, Product Life Cycle (PLC) is the typical process that all products go through from birth to death.
Packaging is crucial for a product as it is the integral part of the product itself. Most products bought by consumers are packaged.
The most important aspect of marketing is to create Unique Selling Point (USP) for the product to differentiate from competitors.
Companies should redefine themselves as satisfying customer needs and wants, and redefine their product ideas accordingly.
What are the typical methods of differentiation? A firm may differentiate itself from competitors through unique 8Ps of Marketing Mix.
Differentiation means distinguishing your business organization from other businesses in the same industry. It works wonders to stand out!
A product is either a tangible good or an intangible service, or a combination of both, supplied by a business to satisfy needs and wants of customers.
While 4Ps of Marketing Mix are about products in a business, 4Cs of Marketing Mix focus on the role of customers in a business.
Good Marketing Mix is when the right product is sold at the right price with the right promotion in the right place. Here are 5 tips.
This article introduces 4Ps of Marketing Mix which are different inter-related parts making up the Marketing Mix, the four key decisions.
There are so many brands that suck! This article is meant to be a very short guide to perfection - perfecting your brand to help it unsuck.