Question

Explain the strategies to be adopted during the growth stage of the Product Life Cycle.

Answer 1

The following strategies may be adopted during the growth stage:

1. Heavy advertising to create brand image and to stimulate sales.
2. Expanding distribution channels to make the product available wherever demanded.
3. Introducing new versions of the product to cater to the needs of different types of customers.
4. Keeping the price at competitive levels.
5. Greater emphasis on customer service.