The decline stage of the product life cycle (PLC) has its own special challenges for marketers. Briefly define the five strategies that a marketer can use for rejuvenating a declining product. What determines which strategy should be implemented?
Two brothers own a company that makes battery-operated paint sprayers. One brother is convinced paint sprayers are in the maturity stage of the product life cycle (PLC) and wants to implement strategies that will stimulate sales. The other brother is critical of the whole PLC concept. Over the years, as more competitors entered the market and their profits shrunk, they have debated the PLC concept. Why would one brother be so in favor of the PLC concept and one be so opposed to it?
Kotler, P. (2003). Marketing Management, 11/E. Prentice Hall. Chapters 11,12, and 13, Pages 307-405. MBA© BrainMass Inc. brainmass.com October 24, 2018, 7:55 pm ad1c9bdddf
This solution briefly defines the five strategies that a marketer can use for rejuvenating a declining product, and the factors that might determine which strategy should be implemented. Based on the scenario about the two brothers, it also evaluates the pros and cons of using the PLC concept. Supplemented with an informative article on product rejuvenation.
Marketing Strategies for a Product in Maturity Stage: Product life cycle (PLC)
One of your company's most important products in the maturity stage of its products life cycle and has been for a while. Now the competition is taking aim at your product. What marketing strategies are the most appropriate in this situation? Discuss strategies for each element of the marketing mix. Which strategy would you use first? Why?View Full Posting Details