Discuss the unique marketing characteristics a product or service requires based on the specific phase of the product life cycle.
Marketing is a process of making sure that the product or service is will introduce and understood by every customer full stop it is important to have the right marketing strategies we should make sure that the product sales will increase very soon. It is a basic guideline to understanding the product before adding it to the market once the product is in the market and if the product has flaws or defect then the product will be a complete loss and failure of the project. Every product and service have a lifespan which is measured by its sale theory and history of the project is been launch after its deployment the development part of the project is completely ended now the marketing and marketing strategies are involved at the marketing stage. In order to understand various categories and characteristics of marketing to market a product and service, it is important to understand the product life cycle. Every product and service has a certain life cycle which is a different product that has a different life cycle which defines is initial stage to its final stage. To understand the marketing phase of any product it is important to understand its product life cycle.
Product life cycle
Understanding marketing characteristics per product life cycle requires the knowledge of the product life cycle.
The product life cycle is categorized into 4 stages.
Stage 1 introduction
In stage 1 the product is deployed by the company and it is introduced in the market first once the product is introduced in the market it is now introduced to the customers so that the customer can experience the product by using it. But the only introduction of the product is not enough the product has to properly advertise and market in the commercial area so that the product will be used by the customers (Cata, 2010).
