Marketing And Operations Ua Resit Flashcards
What is the introductory stage
Product just released into the market. Firm has to cover R+D costs and also high advertising costs.
What is the growth stage
Customers return for repeat purchases. Profit and sales start to rise. Competitors are also entering the market
What is the maturity stage
Profit is at highest point, so are sales. Little room for growth
What is the saturation stage?
Profit and sales can’t go any higher and so start to dip. Market full of competitors, so only way to get sales is to steal them.
What is the decline stage
This is when the product starts to go out of fashion. Firm doesn’t try to use advertising to help the product to stay in the market. Sales and profit is starting to drop rapidly
How can ict be used to contribute to marketing
It can help advertise the businesses product online or on tv.
It can help to design the packaging of the product
It can help to produce surveys for market research
They can be to create presentations
How can technology be used to contribute in operations
Can be used in CAM, CAD, AGV
it is used for the electronic stock control which stores how much stock a firm uses on a daily basis.
CAD - computer aided design. Technology helps firm to design their product the way they want it.
CAM - computer aided manufacture. Technology helps firm to make the product. Helps to produce all the small details of the product.
AGV - used to make your way around the different parts of the company
What are the stages of the product life cycle ?
Introductory
Growth
Maturity
Saturation
Decline
