Strategic Marketing

Theories and Assumptions in the Product Life Cycle and Their ApplicationA Review of the LiteratureIntroductionManufacturing and merchandise a intersection has an element of try in that the avocation organization does non know how the market exit act to it . As a result , the care is well cognizant to conduct exhaustive research regarding market invite originally investing in the crossingion and the marketing of any goods and function . But even prior market research does not al ways yield dependable results as product schooling and introduction is a time consuming process so that by the time the product has been introduced any number of demand factors might have transfigured and as a result of this change , the findings of market research conducted prior to product development leave alone have lost their validity . That is why developing and introducing a product is a risky tune . However 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 little risk if the market is already demanding a product And it is possible for the vender to control demand in any number of ways . For example , the market which has intense competitive rivalry will not seem to present a good business opportunity at first sight . However if the producer of the product has developed expertise which enables him to keep costs of production down and set a lower price for the product , then the risk will be reduced intimately . This low-priced product , assuming that it has the same aim of pure tone as its competitors , will be enjoying a high aim of demand to a certainty However even this product will be going through a free fall at some point in the time during which it is universe marketed . This is the main assumption of the product life cycle system .

All products go through the introduction pose , the gain stage , the maturity stage and lastly the decline stage (cited in Kotler , 2005Demand ForecastingForecasting demand is the most important task for the precaution when manufacturing and marketing a product . If the product is in a capital intensive industry , then the management will have a lot at stake and this enhances the criticalness of the need for forecasting demand . As mentioned before , if in that respect are other products in the market , then the management can conduct market research on the level of demand the existing 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 sure 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 desired features into the...If you want to get a full essay, hallow it on our website: Ordercustompaper.com

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