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Product Life Cycle Of Fads Trends

Product Life Cycle Of Fads &Amp; Trends

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Title: Product Life Cycle Of Fads &Amp; Trends

Essay Details:

Subject: Business

Author: Jacqualine B

Date: August 16, 2014

Level: University

Grade: A

Length: 6 / 1577

Essay text:

The impact on the marketing mix is as follows: • Product :- Branding & quality level is established & intellectual property protection such as patents & trademarks are obtained. • Pricing :- The pricing strategy maybe one of ‘low penetration pricing’ to build market share rapidly, or ‘high skim pricing’ to recover development costs. • Distribution :- It is selective until consumers show acceptance of the product. • Promotion :- It is primarily aimed at innovators & early adopters. Marketers seek to build product awareness & to educate potential consumers about the product. Growth Stage In the growth stage, the firm seeks to build brand preference & increase market share...

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