Page 10 - MARKETING & PUBLIC RELATIONS EBOOK IC88

 Big organisations, for the purposes of developing strategy, may conceptualize that
each product is a separate business and give it a distinct operational identity with
specific objectives.
2. Strategies
 Strategies should be clear and identifiable, fully exploiting environmental
oppurtunities, within acceptable risk limits.
 Some others would want to confront the market leaders and occupy an equally
competitive position.
 Some may prefer to avoid the more popular segments of the market and make
offers of a kind not usually available in the market, a specially offer.

3. Programmes and activities
 Marketing programmes and activities are sequences of actions, which have to be
undertaken to realize the strategies and to achieve the objectives.
 3 important factors to be taken care of in planning are consistency, integration,
leverage.
 Growth can be achieved through penetration of existing markets with the same
products, development of new markets with new products, or development of new
for both existing and new market.

H. Product life cycle

1. Stages
 Every product has a life cycle, just like evry living beingn has a life cycle.
 The product life cycle consist of birth, growth, maturity, and decline.

2. Implications
 In the birth stage both investment and promotion costs are high without adequate
returns.
 The second optio is to revitalise the product growth by adding new features that
may enhance its attractivness and value, finding new market/users.
 The four stages of the products life cycle are not uniform length.
 The poor performance of a product in the market place may be due to product
features not meeting the needs of the consumers, ineffective marketing causing
poor awareness, and /or poor availability.
 The concept of the product life cycle is useful in developing strategy.

3. Positioning
 Another concept relevant to marketing strategy is positioning. A product cannot be
everything to everybody.
 But it is not always that direct experience is responsible for the images.

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