Answer:
1. Development
The most common improvement in a product’s lifecycle is the market for a product that has not yet been marketed. Here, companies bring in money, create prototypes, test product types, and try their best to promote. Because of this situation, companies spend a lot of money without making money because the product has not been sold.
This phase can take a long time depending on the complexity, functionality and competition of the product. The process of developing a completely new product is difficult because the first pioneer of the product often does not proceed as proof of the following.
Development Stage Marketing Strategy
While marketing usually starts with the introduction of a site, you can start building “Buzz” around your product by creating voice-based evidence in your work. You can also quickly (and advance) customer reviews or recommendations. Your goal in marketing right now is to build your brand and create a new business for yourself.
2. Introduction
The introduction is the first time a product has been marketed in the market. This is where retailers begin to increase product awareness and reach customers. Usually when a product is imported, sales are low and demand gradually increases.
Usually, this section focuses on advertising and marketing campaigns. Companies are looking for ways to distribute and try to educate potential customers about the product.
Introduction Steps in a marketing plan
This is where the fun begins. Now that the products have started, you can effectively promote your product using inbound advertising and in-house advertising. Education is very important in this area. Your customer wants to know what to buy before you buy. If your marketing strategy succeeds, the product will move on to the next step - growth.
3. Growth
During the growing season, consumers have got the product on the market and consumers have really started to buy it. This means that demand and profits will grow, hopefully faster.
The growth scenario is a time when product markets are growing and competition is starting to grow. Competitors will likely see your success and want to be there.
Growth Phase Strategy Marketing
In the midst of this segment, active markets often shift from acquiring customers to creating a brand before consumers choose them instead of creating competitors. And again, as companies grow, they begin to open up new distribution channels and add content and support services. You are also familiar with this in your program.
4. Maturity
The growth season is when the initial sales levels start from the first growth period. At the same time, companies are starting to lower their prices so that they can continue to compete with increasing competition.
This is where you start to develop into a better company and learn from the mistakes and growth stages you made in the beginning. Marketing companies often focus on differences rather than caution. This means that production capacity can be increased, prices reduced and distribution can be solid.
In the growth phase, the products begin to move to the most productive phase. Production costs decrease as sales increase.
Maturity Stage Marketing Strategy
If your product becomes a gift parent, you may feel “progressing” because the marketing is permanent and the product is manufactured. But that’s why it’s important to put yourself in the lead and differentiate your brand.
Keep developing your product as your brand grows and tell customers more than ever about your marketing plans for your favorite product. This will protect you from the next step - refilling.
5. Saturation
During the product filling process, competitors have started to enter the market and the products are not increasing or decreasing sales.
Usually, most people show the product, but there are many competing companies. In the meantime, you want your product to be a brand you don’t want to get on stage.
Saturation Stage Marketing Strategy
Once the market is filled, you need to look at different looks, brand awareness, prices and customers. The competition is very fierce at the moment, so it is important to leave any doubt about the size of the product.
If knowledge of the product component is not possible (because the product only needs a small change at the moment), contact personal service and use the customer experience in your market.
Step-by-step explanation: