Product Life Cycle

– Promotions Essay, Research Paper

Final Project Outline

Questions:

I. Page 99 question # 2

# 2. How would you advertise a toothpaste at the four different stages in its life

cycle.

1. Introduction Stage

Risk seems to go hand in hand with the introduction stage because the

chance of product failure is quite high. Profits will be below zero due to

low initial revenues while the toothpaste company covers large expenses

for promotion and distribution. We will need to let potential buyers

aware of the new toothpaste availability. These buyers must know the

toothpaste’s features, uses, and advantages over other brands. I’ll

assume this particular toothpaste company has the resources,

technological knowledge, and marketing know-how to launch the

toothpaste successfully. Having these assets will be a great advantage

for the success of the new toothpaste brand.

2. Growth Stage

The growth stage will be critical to the toothpaste’s survival because the

competitive reactions to the products success during this stage will

affect the toothpaste’s life expectancy. I would expect the toothpaste’s

sales to rise rapidly and profits to reach a peak and then start to slowly

decline. To counter act the sales decline we must try to strengthen its

market share and create a competitive niche by emphasizing the

toothpaste’s benefits. To accomplish these tasks we may need to cut

prices to stay competitive and gain stronger market position.

3. Maturity Stage

Our toothpaste’s sales curve will peak and begin to decline as will

profits. This is the result of intense competition, as similar brands are

now in the market. As a result many weaker competitors will be

squeezed out or lose consumer interest. We must now turn our

attention to develop improvements in our product and find positive

differences in our version of toothpaste. We will continue to make

fresh new promotional and distribution efforts. We will concentrate on

advertising and dealer based promotions. We must also look at another

opportunity that exists. Marketers of mature products sometimes

expand distribution into global markets. We will need to research and

determine if our toothpaste will be accepted and fit the needs of global

consumers.

4. Decline Stage

The stage where our sales will fall rapidly. New technology or social

trends are at times the culprits of this downward spiral. Due to low

profits we may cut promotion efforts, eliminate marginal distributors,

and eventually plan to phase out our toothpaste. I will assume our

toothpaste company has more than one product, a company’s future is

rarely tied to one product. As one product is declining, our toothpaste,

other products of ours are at different stages of the life cycle. Therefore

we will need to deal with prolonging the life of existing products and

introducing new ones. Our main objective as a company is to meet

organizational sales goals. As one product is declining, other products

are in the introduction, growth, or maturity stages for our company.

II. Page 140 question # 3

# 3. “How do we sell this thing.” Rank each of theses approaches, in descending

order of expected effectiveness.

10. Buy a Cheap Labor-saving Device.

9. Buy a Goat Instead of a Sheep.

8. Buy a Goat.

7. Goat. Guaranteed.

6. Don’t Let Someone Else Get Your Goat.

5. Give a Goat a Home.

4. Goat for Sale.

3. Save on a Goat.

2. Buy a Great Goat.

1. Buy an Affectionate Labor-Saving Device.

III. Page 238 Question # 1

#1. What do advertisers mean by strategy. What are the key considerations in an

advertising strategy.

Averting messages aren’t created on a whim or by a quick flash of

inspiration. Advertising is a disciplined art and involves a lot of

strategic thinking. Advertisers create messages to accomplish specific

objectives, a process called strategic planning. Advertisers determine

what you want accomplished, decide on strategies to go about

accomplishing, and implementing tactics which make the plan come to

life. Advertising involves many different strategies. First there must be

a strategic business plan that deals with the broadest decisions made by

the organization. Next advertisers have marketing strategies that will

identify key advantages for the product or firm in the marketplace.

Lastly there are advertising strategy decisions that are made which are

crucial to all advertising situations. Advertisers must set objectives and

identify the target audience. The advertising product must be compared

to competing products features. The product must be position so it is

welcomed in the marketplace by consumers. Finally the advertisers

must create a brand image and personality for the product. These are all

key

Внимание, отключите Adblock

Вы посетили наш сайт со включенным блокировщиком рекламы!
Ссылка для скачивания станет доступной сразу после отключения Adblock!

Скачать