Post by blame their on Oct 25, 2023 23:36:09 GMT -5
Below you will find a detailed description of each of them, including marketing and sales activities that are worth undertaking at each stage. Launch stage In this phase, the product is introduced for sale, which is associated with characteristic factors such as high production and promotion costs , relatively low sales results and little or no competition. product life phases.
Growth stage The product growth stage is the phase in which economies of scale apply. Costs are decreasing, awareness of the assortment among potential consumers is increasing, and an increase in sales phone number list is also clearly noticeable. When our product has no competition, the sales margin is higher, but when competitors appear, the price is adjusted to the market level. Maturity stage In the third phase of the product life cycle, it reaches market maturity.
Expenditures on advertising and promotion are reduced, which means that costs at this stage are the lowest. At the same time, this is the stage in which the product reaches the peak of sales, also bringing the highest income. Usually, however, the competition for our product range is already very strong, which forces a gradual decrease in price and modification of the product in order to increase its attractiveness.
Growth stage The product growth stage is the phase in which economies of scale apply. Costs are decreasing, awareness of the assortment among potential consumers is increasing, and an increase in sales phone number list is also clearly noticeable. When our product has no competition, the sales margin is higher, but when competitors appear, the price is adjusted to the market level. Maturity stage In the third phase of the product life cycle, it reaches market maturity.
Expenditures on advertising and promotion are reduced, which means that costs at this stage are the lowest. At the same time, this is the stage in which the product reaches the peak of sales, also bringing the highest income. Usually, however, the competition for our product range is already very strong, which forces a gradual decrease in price and modification of the product in order to increase its attractiveness.