Harvesting- Sales and Marketing budgets are slashed.
Maintenance- Advertising, sales promotions and trade promotions are sustained at a level sufficient to prevent any erosion of the market share.
Profitable survivor- A signal is sent out to the competitors that the firm is going to remain in the market and will increase the market share. Advertising and Promotions are increased. Strong trade promos are done to strengthen the channels
Niche- Advertising and Promotions are concentrated at the selected market with much care .
Marketing Mix decisions for Consumer, Industrial & Service Products
Products Consumer Industrial Convenience shopping Speciality Unsought Staple Impulse Emergency Materials and parts Capital Items Supplies & services Raw Materials Manufactured Materials Installations accessories Supplies Business services
Convenience goods Product Price Place Promotion Products needed to be branded. Branded products can get brand loyalty. Price is not a major criterion but over pricing will loose the market Convenience is very crucial. Intensive distribution strategy followed Advertising and sales promotion plays a very big role Shopping Goods Quality, features and benefits, after sales service are important Prices tend to be high . Hire purchase, credit schemes will trigger sales Consumers will be willing to spend more time and energy in searching the product Personal selling may be good promo tool. Advertising also may help to make awareness. POSM s also plays a role
Specialty Goods Product Highly brand conscious. Refuse any other brand. Quality high Price Market skimming . High price will meet the expectation of the consumer as he seeks high quality Place Willing to do extensive search and refuse alternatives. Exclusive distribution will add to the image Promotion Mass promo may not suit. Adds to be placed in selected exclusive mediums. Personal selling professionals Unsought Goods Product Customers are reluctant to purchase. Benefits presented should be superior to perceived cost Price Price incentives are required to stimulate purchase Place Selective as the frequency is very high Promotion Hard selling, heavy promos, Personal selling, referral selling