Discuss about the stage of the product life cycle

Assignment Help Marketing Management

Reference no: EM132472930 , Length: word count :- 700

1. Marketing strategy- product/service focus and goal setting

a. Stage of the product life cycle:

Question 1: In which phase of its lifecycle is the product? Explain your rationale and identify what strategies they have adopted or need to adopt to extend their lifecycle or develop a new product.

b. Segmentation:

Question 2: Outline your segmentation strategy/analysis and selecting best target market(s) and explain related target market profile(s) (you may create new segments) including demographics, psychographics, behaviours, and geographical considerations.

c. Differentiation and positioning:

Question 3: Position the product and review positioning statements to drive marketing mix (you may reposition the brand).

d. Marketing Objectives:

Question 4: Objective can be behavioral (e.g., sales, market share, profit etc.) and/or attitudinal (increase in consumer attitudes, awareness, recall, liking, etc.) and they need to be SMART (Specific, Measurable, Attainable, Relevant and Timely).

Attachment:- product cycle.rar

Reference no: EM132472930

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