How does product strategy align with product life cycle? Does a product change as it goes through the life cycle? What are the key points to consider before entering a strategic alliance? How does a strategic alliance differ from a joint venture?© BrainMass Inc. brainmass.com October 10, 2019, 5:36 am ad1c9bdddf
How does product strategy align with product life cycle? Does a product change as it goes through the life cycle?
Product strategy must change to manage the product life cycle. Decisions about how to introduce and promote the product are the first strategy. This might include specific target audiences, low costs for penetration, marketing using coupons. Low costs also deter new competitors. Next the growth stage will want to expand the audience by introducing innovations or by differentiating the product from others on the market. This is where changes occur. Newer additives, methods of producing might change in this and in the mature portion of the cycle.
Packaging might changes and new advancements in technology might be employed for the product or the production. These make it easier to identify the differences in the product and the ...
The solution compares strategic alliances and joint ventures.