Describe the promotional strategies used in each stage of the product life cycle.
What will be an ideal response?
See Exhibit 14.4.
INTRODUCTION. During the introduction stage, emphasis is placed on general product class factors and informative messages. Heavy advertising and public relations are used to build awareness, while sales promotion can be used to induce trial. Personal selling is used in this stage to obtain distribution.
GROWTH. In this stage, promotion emphasizes the product's competitive advantage over the competition. Heavy advertising and public relations are used to build brand loyalty. Sales promotion decreases, while personal selling is used to maintain distribution.
MATURITY. With increased competition, advertising may decrease slightly, and the advertising used is more often the persuasive and/or reminder type. Sales promotion increases to build market share, and personal selling is used to maintain distribution.
DECLINE. In general, all products decline, and promotional messages may be focused on other firm products. Because of expense, advertising and public relations are dramatically decreased. Sales promotion and personal selling may be maintained at low levels.
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Indicate whether the statement is true or false
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A. complex B. simple C. technical D. trivial E. mechanical