80. Summary of Product Life Cycle Strategies Introduction Growth Maturity Decline Strategies Product Offer a basic product Offer product extensions, services, warranty Diversity brands and items Phase out weak models Price Charge cost-plus Price to penetrate market Price to match or best competitors Cut price Distribution Build selective distribution Build intensive distribution Build more intensive distribution Go selective phase out unprofitable outlets Advertising Build product awareness among early adopters and dealers Build awareness and interest in the mass market Stress brand differences and benefits Reduce to level needed to retain hard-core loyals Sales Promotions Use heavy sales promotion to entice trial Reduce to take advantage of heavy consumer demand Increase to encourage brand switching Reduce to minimal level
81. Marketing strategy development Business analysis Product development Market testing Commercialization Concept development and testing Idea screening Idea generating New product development process
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98. Product Cost Price Value Customer Customer Value Price Cost Product Cost-Based and Value-Based Pricing Cost- based pricing Value-based pricing
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