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COMMERCIALIZATION 1, Materials and parts. They are industrial goods that…
COMMERCIALIZATION 1
UNIT 2: THE PRODUCT
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Product Life Cycle
From birth to death, the life cycle of a product is generally divided into four fundamental stages: Introduction, Growth, Maturity and Decline.
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Product Decline Stage
The decline can be slow as in the case of oatmeal cereal; or fast like video games. They can reach zero or reach a low level where they remain for years.
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Product Classification
Products can be classified into three groups according to their durability or according to how much they are.
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THE PROMOTION
Public relations
Public relations consist of establishing good relationships with various audiences, which involve favorable publicity and the creation of a positive company image.
It is the least used instrument of the main
promotional tools, although their potential to make a product known and preferred is greater.
Advertising
Advertising is the use of the means paid by a seller to inform,
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Sales Promotion
Sales promotion covers a wide variety of short-term incentives -
coupons, prizes, contests, discounts
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Product promotion
Modern marketing requires more than just developing a good product, setting it at an attractive price, and making it available to your target customers. Companies must also communicate with them, and what they say should never be left to chance.
A company's total marketing communications program - called its promotional mix - is made up of the specific mix of advertising, sales promotion, public relations, and personal sales that the company uses to achieve its advertising and marketing objectives.
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THE PRICE
Utility Orientation
Profit goals can be set in the short or long term. A company will select one of the two options as a policy.
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Situation Orientation
Two closely related goals: stabilizing prices and facing competition, are the least aggressive goals.
With them the only thing that is sought is
simply maintain the current situation of the firm, that is, the status quo. When looking for one or the other, it's about avoiding price competition.
Price Meaning
In simple terms, the price is the amount of money or other useful objects to satisfy a need that is required to purchase a product. Remember that utility is the attribute that has the ability to satisfy desires.
Sales Orientation
In some companies, pricing by managers is focused on sales volume. the goal may be to increase sales or to retain or improve the company's market share.
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