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Due Date: January 22, 2018
Topic: Product Life Cycle
NOTE: There is no grace period in case of GDB
The core objective of this activity is to make the students familiar with the marketing strategies in Product Life Cylce.
After attempting this GDB student will be able to know the product life cycle and the objectives and strategies for each stage.
A product in its lifetime goes through various stages right from introduction, growth, maturity and decline. This sequence is known as the Product Life Cycle and is associated with changes in the marketing situation. The PLC concept can also be applied to what are known as styles, fashions and fads.
Lux is a brand of Unilever Pakistan Ltd and it had been launched in Pakistan in 1957. The marketing managers came up with different marketing strategies to attract the customers since its inception. Now Lux is known as a style icon and has been closely associated with most of the sensual and glamorous women of the age. It has been winning hearts of Pakistani consumers and remains in its maturity stage of product life cycle stage for 50 years. The maturity stage is the most profitable stage in PLC. It is normally longer than the previous stages and it poses strong challenges to the marketing management.
What would be the future marketing mix strategies management could use to sustain Lux on maturity stage?
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solution of gdb please
Marketing mix strategies are as follows:
1:Expand of new co-product.
2.Betterment in styles and extraordinary feautures.
3.Use money to promote the brand name .
4:Awareness is provided to the customers about the brand.
5:Decrease the price in case of competition.
6:Market is divided into different groups to achieve goal.
7:Focus on research and extra ordinary improvement.
8;Convince the customers in an effective way.
9:Introduce different useful featurs in product.
10:Bring out the results by previous marketing strategies.