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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
The following are all major stages of a product life cycle except ______.
Typically profit is negative in which stage of the product life cycle?
A high percentage of new products fail during this period of Product Life cycle:
In which stage of the product life cycle, sales continue to grow but at a decreasing rate?
What happens to a product in the decline stage of its life cycle?
You are the Marketing Manager of a fast moving consumer goods (FMCG) company and you find that one of your products, a washing detergent, is in its grown stage. Describe the steps that you would take to increase your sales in this stage.
“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.
What is the product life cycle?
