BUSI 4220U Lecture Notes - Lecture 13: Preempt, Switching Barriers, Marketing Mix
Document Summary
Shows the sales history of a product or product class. Helps anticipate change in the product"s strategic market objective, strategy, and marketing program. Most products go through 5 distinct stages: introduction, growth, shakeout, maturity and decline. Introduction stage: low sales; product lacks easy availability, most of the target market is unaware of product existence, large investments are require, short term loss. Relationship of strategic market position objective, investment levels, profits and cash flow. Introduction accelerate overall market growth and product acceptance through awareness, trial, and product availability. Moderate to high for r&d, capacity, working capital, and marketing. Establish a foothold in a future new market. Follower learning from pioneer"s mistakes relative to positioning, product design, marketing mix elements (chapter 8) marketing strategies for new markets: benefiting from advances in technology, benefiting from the pioneer"s limited resources. Market strategy elements pursued by successful pioneers, fast followers and late entrants.
