The Product Life Cycle (PLC) and how it is used in marketing
Essay specific features
March 23, 2014
No of pages / words:
2 / 403
Rating of current essay:
The impact on the marketing mix is as follows:
1 Product branding and quality level is established and intellectual property protection such as patents and trademarks are obtained.
2 Pricing may be low penetration pricing to build market share rapidly, or high skim pricing to recover development costs...
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Marketing communications seeks to build product awareness and to educate potential consumers about the product.
In the growth stage, the firm seeks to build brand preference and increase market share.
1 Product quality is maintained and additional features and support services may be added...
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