Question

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.

1. Explain the stage of the Company's Product Life Cycle mentioned in the paragraph with the help of a diagram.
2. Name the service to be offered by the Company in the next phase. Explain any two characteristics of Services.
3. Suggest any two modern ways of marketing the concept of a product. Explain.

Answer 1

1. Product life cycle stage: During the introduction stage, the product is newly launched. It may be a completely new product or a new version of an existing one. In this context, a Netherlands-based semiconductor company has introduced a new single-chip solution, designed to offer color mobile handsets with an MP3 player at an affordable price of around 800.
   
2. Multimedia Experienced Service:
   • Intangibility: Services are intangible, meaning they cannot be seen, touched, or felt before purchase, as customers do not physically experience the services beforehand.
   • Perishability: Services are perishable and cannot be stored for future use. A multimedia service, for example, may be considered perishable if it depends on real-time features. The company must create a sense of urgency to encourage users to adopt the services.
3. Modern ways of Marketing:

   • Telemarketing: The product is extensively advertised on digital platforms and social media channels to raise awareness and engage with the target audience.

   • Online Marketing: This method is highly convenient and cost-free, allowing customers to order products 24 hours a day from anywhere.