Markiting Essay Example | Topics and Well Written Essays - 750 words

Markiting - Essay Example For calculate the benefits the company must has marketing tool in find out buyer wants, behaviour and market size. 2)Developing Marketing Strategies – a company needs makng a positioning strategy. It must follow new-product developmet, testing and launching. Just after launching the product strategy has to undergone many changes in the different stages of product life-cycle. When a product is launch the product has to passes by four stages which are introduction, growth, maturity and decline and this cycle is called product life cycle (Kotler 2004). The figure given below shows a typical bell shaped product life cycle in terms of product revenue and profits. A new product takes time to settle in the minds of consumers. So ate first there happens low or no profits, low sales and high promotional expenditures (Kotler 2004). The marketing mix is affecting this way: 4)Promotion is done for holding innovators and quickly adopters. Marketing communications are everytime helping in educating and bringing interest in those consumers who may go for the product in future. In the growth stage sales increases because more consumers come to know the product and and buy it (Kotler 2004). There is competition. Attention is now on the safeguarding market share and also maximizing profit. In the following way it assist the marketing managers to making decisions: In the decline stage the sales of the product goes down a lot because of many reasons like change in technology, change in consumers tastes, more domestic and internation competitions (Kotler 2004). In such a stage the marketing managers should: Examples: Boston Market which declared bankruptcy and was taken over by McDonald’s came back into existence by revilatizing (Kotler 2004). Even Pitney Bowes was once predicting that the company will fail due to internet but the company still continuing as it