This document discusses the product life cycle and appropriate marketing strategies at each stage. It identifies the main stages as introduction, growth, maturity, and decline. During the introduction stage, strategies focus on informing consumers, inducing trial, and securing retail distribution. In the growth stage, strategies aim to sustain rapid market share growth through improving the product, entering new markets, and increasing distribution. For the maturity stage, the document discusses ways to modify the market, product, or marketing to change the course for the brand. Finally, for the decline stage the strategies presented are to rejuvenate the product, be flexible on price and rebranding, reduce manufacturing costs, or divest the product to another firm.

1. Competitive
dynamics
What marketing strategies are appropriate at
each stage of the
product life cycle

2. PRODUCT LIFE CYCLE
Products have a limited life
Sales pass through distinct stages
Products require different marketing strategies at
different stages
Profits rise and fall at different stages

3. Stages of
Product Life Cycle

4. Introduction
Growth Maturity
Decline

5. Common PLC patterns

6. Marketing
Strategies
at different stages

7. INTRODUCTION STAGE
Inform potential
consumers
Induce Product
trial
Secure Distribution
in Retail Outlets

8. For long term market
leadership
Vision of a mass market
Persistence and Relentless
Innovation
Financial commitment and
asset leverage

9. To sustain rapid market share growth

10. Improve product quality, add
new features
Enter new market segments
Increase the distribution
coverage
Lower price to attract next
layer of price-sensitive buyers

11. MATURITY STAGE

12. Ways to change
the course for a
brand

13. Market Modification
Product Modification
Marketing Product
Modification

14. DECLINE STAGE
Strategies to adopt

15. Re-stage or Rejuvenate by
adding value to the matured
product
Price flexibility and Re-
branding
Or…

16. Reduce the product’s
manufacturing cost to maintain
sales- Harvesting method
Sell the product to another
firm - Divesting method

17. Created by Dipanshu Sehjal, IIIT Allahabad
During a Marketing internship under
Prof. Sameer Mathur, IIM Lucknow
(See www.IIMInternship.com)