Question

What are the marketing objectives when a product is at the introduction stage?

A.
to maximize market share
B.
to build brand loyalty and maximize profits while maintaining market share
C.
to create awareness, organize customer trials, and develop a market for the product
D.
to reap profits and try to retain the product in the market
E.
to create brand loyalty

Answer 1

C. to create awareness, organize customer trials, and develop a market for the product

Answer 2

C. to create awareness, organize customer trials, and develop a market for the product

Step-by-step explanation:

The introduction stage is the first one in the product life cycle. At this stage, the product has just been launched in the market. The sales growth rate is low as customers are not aware of the commodity. The business incurs losses by having the product in the market.

The marketing goal at this stage is to create awareness about this product. The business makes efforts to create demand through promotions and awareness creation. The stage is associated with heavy advertisements as the business tries to popularize and establish a market share for the product.