Marketing strategy approaches for each stage of the PLC

Marketing mix strategies during the introduction stage Offer a basic product with limited choices, as this also helps test the overall market demand/interest, while keeping costs and logistic challenges relatively low Use marketing communications (IMC/promotion) that are effective in generating initial awareness and reaching innovators. Often specialist websites/blogs and magazines provide a specific audience, as …

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Consumer Adoption Categories

This website has discussed consumer innovators numerous times, due to their importance in generating product adoption and kick-starting the introduction phase of the product life cycle. While innovators are the initial type of consumer, there are other consumer mindsets that are typically discussed in marketing textbooks. The standard consumer adoption categories include: Innovators Early adopters …

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Connecting the Product Adoption Process and the PLC

There is a strong relationship between the product adoption process and the product life cycle. Both consider new to the world products – the product adoption process considers the “stage” that the consumer is in relative to the product – whereas the product life cycle model will track sales (and indicate distinct market conditions), depending …

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