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If any of the 4Ps were problematic or were not in the marketing factor of the business, the business could be in trouble and so other companies may appear in the surroundings of the company, so the consumer demand on its products will decrease. Every product is subject to a life-cycle including a growth phase followed by a maturity phase and finally an eventual period of decline as sales falls.
Marketers can expand the current product mix by increasing a certain product line’s depth or by increasing the number of product lines. Access, distribution – Refers to providing the product at a place which is convenient for consumers. When setting a price, the marketer must be aware of the customer perceived value for the product.
What discounts should be offered to trade customers, or to other specific segments of your market? Information – Represents all of the methods of communication that a marketer may use to provide information to different parties about the product. Advertising covers any communication that is paid for, from cinema commercials, radio and Internet advertisements through print media and billboards. Public relations is where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards?

People: refers to the employees of the organisation with whom customers come into contact with. Process: refers to the processes and systems within the organization that affects its marketing process. Surround View delivers a 270° view around your BMW, giving you a new way of looking at the road. As stated about three-quarters of the way into your Marketing 101 book… Products, like people, have been viewed as having a life cycle. The life cycle diagram helps us remember products change over time and so should their supporting marketing strategies.
The above version of the life cycle diagram is particularly helpful as it not only shows the stages of the life cycle and the curve, but also the stages of six different decision making factors: Audience, Market, Sales, Competition, Business Focus, and Design Focus. Marketers do careful research on how long the life cycle of the product they are marketing and focus their attention on different challenges that arise as the product moves through the Life Cycle. Marketers should consider how to position the product, how to exploit the brand, how to exploit the company’s resources and how to configure the product mix so that each product complements the other. Various strategies such as intensive distribution, selective distribution, exclusive distribution and franchising can be used by the marketer to complement the other aspects of the marketing mix.
The price is very important as it determines the company’s profit and hence, survival.

Three basic pricing strategies are: market skimming pricing, marketing penetration pricing and neutral pricing. Promotion comprises elements such as: advertising, public relations, personal selling and sales promotion. Word-of-mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. The product life cycle concept describes the stages a product goes through in the marketplace. Adjusting the price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often; it will affect the demand and sales as well. Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions?

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