Strategic Marketing

Theories and Assumptions in the Product Life Cycle and Their ApplicationA Review of the LiteratureIntroductionManufacturing and trade in a intersection has an element of try in that the chase ecesis does non know how the market place exit act to it . As a result , the c ar is well cognizant to transfer exhaustive research regarding market invite originally invest in the crossingion and the marketing of any trustys and function . But compensate prior market research does not al ways yield dependable results as merchandise schooling and debut is a time consuming process so that by the time the harvest-feast has been introduced any fleck of enquire factors efficacy guide transfigured and as a result of this change , the findings of market research shell outed prior to produce development leave totally have lost their validity . That is why developing and introducing a product is a risky tune . in time the magnitude of the risk varies from product category to product category or it varies even within brands included in the same product category There leave alone be elflike risk if the market is already demanding a product And it is executable for the vender to control demand in any number of ways . For example , the market which has intense competitive arguing will not seem to present a good business opportunity at first sight . even so if the producer of the product has developed expertise which enables him to keep be of production down and set a lower damage for the product , then the risk will be decrease intimately . This low-priced product , assuming that it has the same grade of pure tone as its competitors , will be enjoying a high aim of demand to a certainty However even this product will be going done and through a free fall at some office in the ti me during which it is universe marketed . T! his is the main assumption of the product life cycle system .

All products go through the introduction pose , the gain point in time , the maturity stage and lastly the decline stage (cited in Kotler , 2005Demand ForecastingForecasting demand is the just about important task for the precaution when manufacturing and marketing a product . If the product is in a capital intensive constancy , then the management will have a litter at stake and this enhances the criticalness of the need for forecasting demand . As mentioned before , if in that respect are some other products in the market , then the management can conduct market research on the level of demand the quick product cat egories or brands are enjoying and on why they have the level of demand that they do . virtually important in this case is to find out the priming what features of the existing products are meeting customer expectations . Everything comes down to customer tastes and preferences in a particular product category . The management has to make authoritative that the products it is manufacturing and marketing are in bond with customer tastes and preferences in the industry Otherwise it will be impossible for the organization to recoup its investments . However merely engine room sought after features into the...If you want to get a full essay, hallow it on our website: OrderEssay.net

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