How will it be appropriate for your business in regards its stand the Product Life

Cycle?

The concept of Product Life Cycle is very much known today by the marketers. In
the context of sales promotion, a brand manager has to be very through with the exact
stage of the brand in the PLC before he decides and plans for the offers. Sales
promotions is a promotional strategy where a company lowers prices to attract more
customers and revenue quickly, it is also about setting various promotional tactics and
offerings to acquire new clients, go along with intense competition exists in the market
and to boost the company’s sales.

Introduction Stage:
As Ultimate Home Spa and Massage is introduced in the market, the company’s
main objective is to increase the sales and to develop a good image, great impact and
brand awareness to its market. In this stage, sales promotion will surely help the
company to achieve those objectives. Ultimate Home Spa and Massage would be
serving an array of services that would be appealing to its customers. Moreover,
strengthening the company’s online presence will help the company to create their
name and to build brand awareness to its market since various social media platforms
can be a great advertising tool in terms of promoting businesses.
 To provide additional value to the business’ service, the firm will ensure that
every customer will experience a high quality customer service from the acquiring stage
until the last stage of the service. Thus, both pull and push sales promotion will be used
in this stage.

Growth Stage:
This stage is signified by an increasing sale as a result of the efforts put in the
introduction stage. The Ultimate Home Spa and Massage will maintain the high-quality
services and customer service to its customers. However, different sales promotion will
be implemented since the business needs to expand the market size by introducing
more new customers to try the service for the first time and to increase the patronizing
level of those customers who have already tried the service, for at least once. The first
visit special offer is a good sales promotion to increase the sales of the business. With
this sales promotion, the business will offer a 20% discount for customers who will visit
the business for the first time. This sales promotion will entice and encourage the
customers to try the massage and as they are satisfied with the service, there is a huge
possibility that they will try it more often.
Aside from the first visit special offer, a referral program will also encourage,
since word of mouth is the most effective and economical type of promotion. With the
referral program, a loyal customer who will bring another customer will have a discount;
this is to turn happy customers into brand champions who encourage others to visit
Ultimate Home Spa and Massage. This will help the business to increase the sales and
to increase brand image in the market.

Maturity Stage:
In the maturity stage, the Ultimate Home Spa and Massage begins to experience
a leveling-off of revenue growth as income, customer count and expenses become
more predictable. Moreover, by this time, many competitors with new and creative
strategies will rise and customers will have a lot of alternative businesses to choose
from, therefore, the Ultimate Home Spa and Massage needs to think and implement
new sales promotion to convince loyal customers to stay with the business and at the
same time is to attract new customers to try the services of the firm. In this stage, the
business can give gift certificates for those customers who are really loyal and acquiring
the service at least thrice a month; the business can also sell this for those common
customers who want this.
Furthermore, the business will offer various package deals such as packaging
three type of service in a discounted rate, bundling relevant products together with a
service, or to create combination packages in the choice of the customer. This sales
promotion since the business already established a good relationship with their
customers since they will not hesitate to have numerous services in one.
Same as other stages, marketing and promotion still remain important to catch
the attention of new local residents or people who are unhappy with their current spa
and massage salons. However, maintaining relationships with existing customers by
providing excellent, differentiated service becomes even more vital at this stage to
prevent income from falling.

Decline Stage:
This is the stage where survival of the brand is a big issue. When the business
proceeds to this stage, the firm will be implementing some changes in its policies and
strategies like cost-cutting the operational activities and leaner business practices in
order to boost sales again and to save the firm from closure. The Ultimate Home Spa
and Massage will try to re-enter the growth stage once again. The last hope is those
customers who are still hooked on to the declining brand because of habit.