Advertisements
Advertisements
प्रश्न
Explain the second stage of product life cycle.
Advertisements
उत्तर
Growth Stage: In this stage, demand and sales increase rapidly, distribution expands, competition increases, and prices fall. The promotional focus switches from “buy my product” to “buy my brand”. The company grows sales by expanding market share in existing areas and entering new markets. Promotional expenses remain high but decrease as a percentage of sales turnover. As a result, profits increase. In some circumstances, significant product improvements may occur.
The following strategies may be adopted during the growth stage:
- Heavy advertising to create brand image and to stimulate sales.
- Expanding distribution channels to make the product available wherever it is demanded.
- Introducing new versions of the product to cater to the needs of different types of customers.
- Keeping the price at competitive levels.
- Greater emphasis on customer service.
APPEARS IN
संबंधित प्रश्न
Which stage of the product life cycle is marked by falling costs and rising revenues?
Typically profit is negative in which stage of the product life cycle?
Which stage of the Product Life Cycle is characterised by saturation in the market?
What happens to a product in the decline stage of its life cycle?
| Soon you could get a colour mobile handset which offer an MP3 player, FM radio and a removable flash memory card for about ₹ 800. A Netherlands-based semi-conductor firm has launched a new single chip solution that promises to make this happen. The company is targeting the rural market in India. During the next phase of rapid expansion of mobile communication in the rural and semi-urban areas of India, the firm would like to fulfill the aspirations of first-time handset users by offering the next experience in Multimedia. |
- Explain the stage of the Company's Product Life Cycle mentioned in the paragraph with the help of a diagram.
- Name the service to be offered by the Company in the next phase. Explain any two characteristics of Services.
- Suggest any two modern ways of marketing the concept of a product. Explain.
How is the product life cycle advantageous?
Explain the decline stage of the product life cycle.
Explain the strategies to be adopted during the introduction stage of Product Life Cycle.
What is the product life cycle?
“Introduction Stage in a product life cycle is not very risky.” Justify either or against.
