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प्रश्न
How is the product life cycle advantageous?
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उत्तर
- Effective product planning: Once the product life cycle is known, the company can create an effective product plan and anticipate sales and profitability for each stage.
- Advance steps before decline: Management can take advance measures before the product’s deterioration, such as offering new varieties or discovering new applications.
- Extending maturity stage: The mature stage can be extended by discovering new uses for the product, distinguishing it, or establishing new markets.
- Technological innovation: Technological advances can be used to increase product quality, functionality, and design.
- Marketing decisions: It provides a framework for making smart marketing decisions at each point of the life cycle, with appropriate emphasis on various aspects of the marketing mix.
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संबंधित प्रश्न
Which stage of Product Life Cycle has a greater emphasis on customer service?
Justify the following sentence for or against and give a reason:
Product differentiation is the main aim of branding.
The following are all major stages of a product life cycle except ______.
In which stage of product life cycle, the company takes decision whether to maintain, harvest or drop the product?
The strategy of selective distribution may be employed during ______ stage of product life cycle.
A high percentage of new products fail during this period of Product Life cycle:
AB Visions Ltd. want to introduce a new variety of reading glasses where the vision can be adjusted according to the user’s requirement. Explain the first two stages in the life cycle of this product.
“Pricing is fundamental to all marketing efforts.” Give two reasons either for or against.
Explain the first two stages of product life cycle.
Explain the maturity stage of the product life cycle.
