What are the critical marketing activities required at each stage of the product life cycle?
| Answer: At each stage of the product life cycle, there are critical marketing activities that must be undertaken in order to ensure success. These activities include market research to understand customer needs and preferences, product development to create a product that meets those needs, pricing strategies to maximize profits, promotion and advertising to create awareness and generate demand, distribution strategies to ensure the product is available in the right places at the right time, and customer service to ensure customer satisfaction. |
More resources related to Products
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The role of a product manager is challenging, complex and often misunderstood. But properly defining and structuring the roles and responsibilities of the product management team enables the team members to be more efficient and productive, leading to better revenues and higher-quality products that meet customer needs.
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Are you able to make sure you're properly resourcing your new-product portfolio? And do you have the tracking tools you need to make sure those products launch on time?
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Internet memes—images overlaid with text—are a popular way for brands to reach audiences. As followers and fans share the images, your products, logo, and brand spread to people you wouldn't reach otherwise.
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How can you make sure your new product programs have the right kinds of competitive advantage? You need to think big—and "outside the box." So follow these steps for a greater probability of success.
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Marketers love talking about products like the Swiffer or iPod, two colossal successes in terms of brilliance in innovation and new product development. In fact, rumor has it there are more consulting firms taking credit for Swiffer's development and success than can fit into the new Yankee Stadium. The puzzling question remains: Why aren't there more examples of unabashed new product successes?
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One of the biggest challenges that marketing departments face is producing marketing tools that actually get used by the sales team. You want to create marketing tools that help sell products, not collateral that sits on a shelf. So how do you do it? How do you create a marketing tool that not only gets used but also can reinforce your marketing messaging so that everyone is speaking the same language?
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This week: Many businesses have succeeded in selling products online in the form of e-books, e-reports and other downloadable content. Of course, it's not as simple as posting the product on your Web site and hoping buyers will come. The challenge comes in getting potential customers to your site in the first place.
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Since marketers first entered the boardroom as CMOs, companies have recognized the strategic value of marketing. Often, sadly, that recognition has not been translated into quantifiable business success. But there is a way to magnify the strategic value of marketing and simplify marketers' jobs in the process. All it requires is that marketing take an early and active role in defining the company's product portfolio.
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Convincing journalists to cover your products or services isn’t a simple task. Here's how to clear the hurdles.
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When you’ve made a practical decision to cut your losses on a highly popular but unprofitable product line, how do you make a gracious market exit? Also this week: What steps and checklists can you use to back up your planning decisions?
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This issue’s dilemma asks, Can a company successfully position a product for launch in several markets simultaneously? Also this week: Sometimes, you need to cut your losses and move on.
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Marketing complex products and services is a challenge. This week, add your two cents to: What methods work well for marketing technical services and solutions? Also this week, read your answers to last week's dilemma: What do you do when you are stuck with a no-name moniker and no brand?
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Google is fast on its way to becoming a "mobile first" company: Within a year, mobile will become the primary way users access Google. So what does Google's mobile portfolio look like? And how does it profit from those products?
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Students are most interested in buying laptops, fridges, and large televisions to take with them as they begin college life. Also, though college tech needs are shifting overall—toward products that provide mobility and convenience—the tech items viewed as most essential to college life are still the basics: laptops and printers.
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Nearly six in ten (56%) Facebook users who "like" brands on the social networking site say they are more likely to recommend a brand to friends after becoming a fan, compared with one-third (36%) of brand fans who say they're not likely to do so, according to a study by Constant Contact and Chadwick Martin Bailey.
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People who follow brands on Twitter say they are more likely to buy products from the brands they follow and more likely to recommend those brands to friends, according to a new study by Constant Contact and Chadwick Martin Bailey.
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Websites have now surpassed traditional forms of word-of-mouth as the preferred method among women for getting information about products and services, but when sharing information and opinions, women are still nearly three times more likely to do so with family and friends than to go online, according to a survey from Harbinger.
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Which International Consumer Electronics Show (CES) product categories, companies, and attendees were talked about most at this year's event?
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What are the most popular sales and marketing customer relationship management (CRM) software products on the market?
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Which tactics, channels, and content types do B2B technology companies use most to market products?
