Marketing strategies for introduction and growth stage
Transcript of Marketing strategies for introduction and growth stage
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Marketing strategies for introduction and growth stage
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Content……• What is marketing strategy ?• What is PLC ?• Introduction stage of the PLC• Introductory marketing strategies• Growth stage of the PLC• Marketing strategies for growth stage
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What is marketing strategies ?Marketing strategies is a long-
term course of action designed to optimeze allocation of the scarce resources at the disposal of a firm in delivering superior customer experiences and promote the interests of other stakeholders.
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What is plcProduct life cycle (PLC) is the
cycle through which every product goes through from introduction to withdrawal or eventual demise.
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Product Life Cycle
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Introduction stage of the PLC
• First stage in a product's life cycle. This is the point of product launch, market entry, and user-trial by the innovators.
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• Example :
3D Televisions : 3D may have been around for a few decades, but only after considerable investment from broadcasters and technology companies are 3D TVs available for the home, providing a good example of a product that is in the introduction stage.
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Characteristics of introduction stage of plcSales – lowCost – high cost per customerProfits – negativeMarketing objectives – create marketing
awareness and trialProduct – offers a basic productPrice – use cost plus formulaDistribution – build selection distributionPromotion – heavy to entice product trial
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Introductory marketing strategies
Rapid –skimming strategy Slow- skimming strategy
Rapid-penetration strategy
Slow-pentration strategy
promotion
price
high
high
low
low
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Growth stage of the plcIn the growth stage, the firm
seeks to build brand preference and increase market share.
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Example :Tablet PCs : there are a growing number of tablet PCs for consumers to choose from, as this product passes through the growth stage of the cycle and more competitors start to come into a market that really developed after the launch of Apple’s ipad. Anther example is NANO car.
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Characteristics of growth stage of plcSales- rapidly risingCost- average cost per customerProfits- risingMarketing objectives- maximize
marketing shareProduct – offer extension,service,warrantyPrice- penetration strategyDistribution- build intensive distributionPromotion- reduce to take advantage of
demand
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Marketing strategies for growth stage
• Improves product quality and adds new features and improved styling.
• Add new models and flanker products.• It enters new market segments.• It increases its distribution coverage enters new
distribution channels.• It shift from product –awareness advertising to product-
preference advertising• It lowers price to attract the next layer of price –
sensitive buyers.
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CONCLUSION
We should identify what is the stage we act
Recognize the issues what we face.
What kind of strategies we should follow
Implement the effective strategies.
Evaluate the success.
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