9 Identifying the product/brand to be marketed

Question 1

Name all the stages of the product life cycle!

and give the strategy for each step.

Answer 1

1. ) Introduction
   - focus on getting into market
   - gaining recognition & reputation
   - distribution at selected channels
2. ) growth
   - widely distributed
   - aimed at broader target market
3. ) boom phase/maturation
   - highlight differences

4.) decline
- extend the lid cycle?
= reducing costs/ price
= updating packaging etc.