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प्रश्न
How is the product life cycle advantageous?
विस्तार में उत्तर
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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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Product Life Cycle (PLC)
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अध्याय 2: Marketing mix - 4 P's - EXERCISES [पृष्ठ ३९]
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संबंधित प्रश्न
Which stage of the product life cycle is marked by falling costs and rising revenues?
In declining stage of PLC, which tool would be more preferred?
A high percentage of new products fail during this period of Product Life cycle:
Which feature is pertaining to Introduction stage of PLC?
“Pricing is fundamental to all marketing efforts.” Give two reasons either for or against.
Mention the various stages of ‘Product Life Cycle’.
Explain the maturity stage of the product life cycle.
Explain the strategies to be adopted during the growth stage of the Product Life Cycle.
What is the product life cycle?
“Introduction Stage in a product life cycle is not very risky.” Justify either or against.
