Marketing strategies and

product life cycle

1. Marketing strategy
2. Strategic marketing process
3. Strategic marketing position
4. Strategic marketing decisions
5. Strategic marketing efforts
6. Strategic marketing planning
7. BCG Matrix
8. Product life cycle
9. Stages of product life cycle
10. Marketing Strategies in the Product Life Cycle
 The marketing strategy lays out target markets and
the value proposition that will be offered based on
an analysis of the best market opportunities."
(Philip Kotler & Kevin Keller)
 Marketing strategy is a long-term, forward-looking
approach to planning with the fundamental goal of
achieving a sustainable competitive advantage.
 Strategic marketing, as a distinct field of study
emerged in the 1970s, and built on strategic
management that preceded it. Marketing strategy
highlights the role of marketing as a link between
the organization and its customers.
 Identifying strategic marketing position.
 Identifying strategic marketing capability.
 Strategic marketing decisions.
 Managing strategic marketing efforts.
 Environmental scanning.
 Industry analysis.
 Competition analysis.
 Customer analysis.
 1. Product
 Strategic product decisions provide appropriate
product offering for satisfying customers.
2. Pricing
 Pricing is an important element in gaining
competitive advantage competitively low price
offer and positioning call for low pricing strategies.
3. Promotion
 Promotion performs the task of informing
persuading countering competition and building a
favourable usage.
4. Distribution
 In a competitive environment, distribution is a
major source of competitive strength, Product
availability, convenience, time and distance are
important aspects of distribution from the
customer’s viewpoint.
1. Organisation and implementation.
 The strategic marketing efforts have to be
organised and coordinated throughout the
enterprise.
2. Strategic marketing control.
 Control involves feedback about the
implementation of strategic marketing
decisions. The gap between intended strategy
and realised strategy shows gap in
implementation.
Swot Analysis
1. Strength
It means an inherent capability that enables the
business/marketing unit to overcome competition and other
challenges.
2. Weakness
It means an inherent limitation of constraint that reduces the
competitive position of the business/marketing unit.
3. Opportunity
It means a favourable condition in the environment that
helps the organisation to improve its operating efficiency.
4. Threat
It means an unfavourable condition in the environment that
reduces the operating efficiency of the organisation.
 This is very useful method for strategic
planning is the Boston Consulting Group
(BCG) approach. This approach is based on the
philosophy that a product’s market growth rate
and its relative market share are the main
considerations in determining its marketing
strategy.
 The stages through which the individual
products develop over a period of time is
known as product life cycle.
 According to Philip Kotler “The product life
cycle is attempt to recognize distinct stages in
the sales history of the product”.
 PLC is a crucial aspect which has to be studied
by the firm for its survival and growth in the
market.
 It helps a firm to manage the risk of launching
a new product more effectively .
1. Introduction Stage
In this stage new product introduce or
launched in the market, and the firm tries to
create product awareness and develops a
market for the product.
2. Growth Stage
In this stage the product start to increase its
sales and profits. As the production increases
the firm achieve the economies of scale an
hence the overall profit increases .
At this stage the firm tries to develop the brand
preference and increase the market share.
3. Maturity Stage
At this stage the growth in sales decrease quite
significantly .Ultimately the maturity stage
becomes the key turning point for companies
because at this stage sales will start to decrease.
4. Decline Stage
At this stage there is a downturn in the market.
Innovative products are introduced or
consumer taste and preferences have changed.
There is severe price cutting and many more
products are withdrawn from the market.