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Marketing - Coggle Diagram
Marketing
product life cycle
growth
Sales are growing rapidly
get profit
maturity
sales increases slowly
intense competition
introduction
sales are starting to grow
consumers aware of the product.
development
no sales
spend money on R&D
decline
sales has started to fall
product takes off the market
pricing method
Competitive pricing
Product priced similarly or below the competitor’s price
Sales are high with competitors
loss-leader
product price low or even loss-making
attract customer in other same product
Cost-plus
Cost of producing plus a profit
method is easy
Penetration
Low price for a new product
Ensures product will be sold
Skimming
new product sets high price
business can maximize revenue
