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The marketing strategy should be designed in such a way that it increases sales so that your company has a competitive advantage which is sustainable in the long run.
Diversification is a high risk strategy which involves diversifying the range of products and services that you offer. This is the process of developing your current market and could include entering new markets with your products and services. Product Marketing Strategy helps manufacturers with product marketing, product strategy, and marketing strategy to maximize profitability over the product life cycle. Marketing Mix Strategies are continuing to evolve from their original beginnings in the 1940s.
In the continuing evolution of the marketing mix strategies, the 4 Ps grew to be 7 Ps and then 8 Ps. Marketing Mix Strategies is all about mixing the the Ps or Cs to create the product or brand offering.
This entry was postedon Wednesday, April 17th, 2013 at 1:46 pmand is filed under Product Marketing Strategy. AHMA’s 2000 International Hardware Week Education Program was a tremendous success this year due in no small part to your involvement and the presentation you made to participants. International Product And Service StrategiesThis chapter attempts to shed light on some of these challenges. Product Life Cycle CurveFor example, if sales peak and then decline, managers may conclude that the product is in the decline phase and therefore cut the advertising budget, thus precipitating a further decline. Marketing Mix – Wikipedia, The Free EncyclopediaMarketers must do careful research on how long the life cycle of the product they are marketing is likely to be and focus since customers are a target of marketing, while the other elements of the marketing mix are tactics.

Understanding Pricing Objectives And strategiesDirect marketing gives you more control than wholesale marketing over how products are grouped, displayed, and priced.
MARKETING Pricing StrategiesMarketing Strategy Over the Product Life Cycle INTRODUCTION GROWTH MATURITY DECLINE . Your marketing strategy is therefore a set of rules which direct what you do to promote and sell your products or services. It is high risk in that it is usually a high cost strategy which medium to large sized established companies use in order to continue to grow the business. You could visualize it almost like a pyramid with your overall business aims and objectives at the bottom. Your marketing mix is very simple, it consists of your what product you are going to sell, what price you are going to sell it at and where you are going to sell it. Other strategists came along and developed the 4 Cs of Consumer, Cost, Communication and Convenience. The goal of any marketing mix strategy is to mix the ingredients in a way that optimizes profitability over the product life cycle.
His guidance through collaboration and the educational materials he has developed has provided me the ability to better understand and grow my products and business.
10-1 The International Product Life Cycle (IPLC) Products pass through distinct stages, during which profits may rise and fall, respectively; as a consequence, products require different marketing strategies in each stage. Frazier – Chairman, Chief Executive Officer, President and President of Global Human HealthAdam H. New Product Development And Product Life-Cycle StrategiesDescribe the stages of the product life cycle.

This can be achieved by finding new customers or getting your current customers to buy more of your product, instead of your competitor’s product. Once this is established, you can write a marketing plan, which is the detail of the specific marketing activities you are going to take action in order to achieve your business aims and objectives.
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The life cycle of your product can impact your choice of pricing objectives and strategies.
Sometimes the recipe was fairly standard, other times it would be developed as  things moved along. Ps or Cs is more a question of perspective as the Product is the definition of the features of the product required to meet the needs of the Consumer.
Sometimes it was created from available ingredients and other times new ingredients were added. The same comparison can be made of Price versus Cost, Promotion versus Communication and Place (distribution) versus Convenience.

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