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The Product Life Cycle Plc And How It Is Used In

The Product Life Cycle (PLC) and how it is used in marketing

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Title: The Product Life Cycle (PLC) and how it is used in marketing

Essay Details:

Subject: Business

Author: Nick N

Date: June 22, 2013

Level:

Grade: A

Length: 2 / 403

Essay text:

The impact on the marketing mix is as follows: 1 Product branding and quality level is established and intellectual property protection such as patents and trademarks are obtained. 2 Pricing may be low penetration pricing to build market share rapidly, or high skim pricing to recover development costs. 3 Distribution is selective until consumers show acceptance of the product. 4 Promotion is aimed at innovators and early adopters. Marketing communications seeks to build product awareness and to educate potential consumers about the product. Growth Stage In the growth stage, the firm seeks to build brand preference and increase market share...

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