Marketing and promotion process model for the product and services has also been analyzed, so that firms can make appropriate strategies to gain advantages. In order to introduce new product in the market, business firms have to follow the product life cycle. Marketer has to make campaign of the product that is in a mature stage of the product life cycle. Marketing and Promotion Process Model is focused towards introducing the new product in the market, as it assists the management to plan and develop marketing strategy.
As per assignment help experts, It has been analyzed that development of the marketing program requires an in-depth analysis of the overall market situation. Moreover, marketing research is helpful in developing the marketing strategies in regard to product, pricing, distribution and promotion decision. In order to make the promotion of product at the maturity stage, marketing planning program development is the difficult task. Organizations have to decide, which type of marketing and promotion activity is suitable in order to grab the large part of customers.
In addition, marketing expert should have appropriate knowledge about the current trends and culture in the external environment, so that the advertisement and taglines can be created as per the culture and values of the target market, which is helpful to create positive impact. It is difficult to identify the promotional program at the maturity stage of the product. In the maturity stage, marketing expert has to take various promotional decisions in order remain the product in the market for long period. Therefore, marketing expert has to frame different policies and strategies in order to address the issues in making the marketing and promotional development plan. Marketing research and development program is helpful in addressing the issues in making promotional decisions. Apart from this, marketing expert has to make effective advertising during the maturity stage of product (Wrenn, & Mansfield, 2005). Effective advertising is helpful in sustaining the product for the long term in market before the declining stage of the product, as through advertising, consumers know about the unique features of products and services, which differentiate products from competitors.
At the time of maturity stage of the product, customers switch towards other techniques and innovative products that have been newly introduced in market with innovative features and as per needs of consumers. Marketing expert has to make long-term strategies while introducing the products and services in the market. Long-term planning is helpful in overcoming with the issues of maturity stage. Company has to make marketing strategies in such a way that will be helpful in increasing the sales during the stage of maturity, as at this stage, it is quite difficult for the markets to add new features in the existing product to compete in the market. Marketing expert also has to understand the strategies and policies of rivalry firms in order to sustain in the competitive market environment.
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