Marketing Mix Strategies
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A South African manufacturing company is marketing a product in three regional markets, namely Botswana, Zambia and Tanzania. The South African company's product is at different stages of the product life cycle in each of the three markets. In Botswana, the product is in the decline stage of the product life cycle, while in Zambia the product is in the growth stage, and in Tanzania it is in the introduction stage. The company is not sure which marketing mix strategies it should employ in the three markets. Advise the company on the marketing mix strategies it should use in each of the three markets and justify each strategy recommended.
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Solution Summary
Marketing mix strategies are examined for a South African product company.
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I have outlined a response to the three stages. The justification is noted within each strategy, but you will want to apply your own knowledge about the subject to the outline.
Decline Stage:
This would depend on the product, the target market loyalty, and the supply and customer service potential. However, a general strategy can be formulated. The first thing and the last thing all are dependent on the weak parts of the market and distribution channels.
This stage usually means phasing out the product. No innovations, changes, or money for the product are required. The price should be lowered to a point where it still makes a profit, but competes in the market. There will usually still be loyal customers who will want the product or service. The distribution should be examined and the weak channels phased out. Remember, there will be some future customer service for the product or service and the company should be ...
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