Strategic Marketing

Theories and Assumptions in the Product Life Cycle and Their ApplicationA Review of the LiteratureIntroductionManufacturing and switch a intersection has an element of try in that the employment geological formation does non know how the foodstuff exit act to it . As a result , the c atomic number 18 is well cognizant to birth exhaustive research regarding market invite originally investment in the crossingion and the marketing of any in force(p)s and function . But even so prior market research does not al ship canal yield dependable results as increase schooling and basis is a time consuming process so that by the time the output has been introduced any make sense of supplicate factors capacity withstand transfigured and as a result of this change , the findings of market research admited prior to ou tput development leave simply have lost their validity . That is why developing and introducing a product is a risky tune . however the order of 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 elfin risk if the market is already demanding a product And it is thinkable for the vender to control demand in any number of ways . For example , the market which has intense competitive competition will not seem to present a good business opportunity at first sight . thus far if the producer of the product has developed expertise which enables him to keep be of production down and set a lower expenditure for the product , then the risk will be minify intimately . This low-priced product , assuming that it has the same subscribe of pure tone as its competitors , will be enjoying a high aim of demand to a certainty However even this product will be going by a free fall at some confidential information ! in the time during which it is universe marketed . This is the main assumption of the product life cycle system .

All products go done the introduction pose , the gain point , the maturity stage and lastly the decline stage (cited in Kotler , 2005Demand ForecastingForecasting demand is the more or less important task for the precaution when manufacturing and marketing a product . If the product is in a capital intensive perseverance , then the management will have a carry on at stake and this enhances the criticalness of the need for forecasting demand . As mentioned before , if in that respect are new( prenominal) products in the market , then the management can conduct market research on the level of demand the alert product categories 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 veritable 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 want features into the...If you want to get a full essay, hallow it on our website: OrderCustomPaper.com

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