Question Description
I’m studying for my Writing class and need an explanation.
Discuss the unique marketing characteristics a product or service requires based on the specific phase of the product life cycle.
Explanation & Answer
Hey all done, sorry I think I wrote a little more than 500 words but it was because I used academic journals as requested!Let me know if you'd like any changes/clarifications!
Discuss the unique marketing characteristics a product or service requires based on the specific phase of
the product life cycle.
The product life cycle is a logical pattern of recognisable stages a product sequences through during the
course of its lifetime - these stages are known as market development, growth, maturity and decline (Day,
1981). Forecasting these stages to predict the shape of the curve, magnitude of sales and duration of stages
can be favourable for any business. Overall, it allows a business to formulate a competitive edge, by
allowing the paramete...