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Topic F - Coggle Diagram
Topic F
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Product life cycle
Maturity
A product's sales growth slows. Sales = Peak sales. Costs = Low cost. Profits = High profits. Customers = Mainstream Adapters. Competitors = Stable but starts to decline.
strategies
Diversify brand and models.
Price; To match or beat competitors
Distribution: Build more intensive distribution.
Advertising: Stress brand Differences and benefits.
Sales Promotion: Increasing to encourage brand switchingl.
Growth
The product's sales start climbing. Sales = Rising. Cost = Average cost per customer. Profits = Rising. Customers = Early adopters. Competitors: Growing number
Offer product, extensions, service, warranty.
Price: to penetrate market.
Distribution: Intensive Distribution.
Advertising: Build engagement and mass market.
Sales Promotion: Reducing to take advantage of heavy consumer demand.
Introduction
The product is made available for purchase. Sales = low. Costs = high. Profits = negative. Customers = Innovators. Competitors = few.
Strategies
Offer a basic product.
Price: use cost plus pricing.
Distribution: Selective.
Advertising: Product awareness for early adopters.
Sales Promotion: Heavy sales promotion.
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Consumer Products
Shopping products
The buyer usually compares on such attributes as sustainability, quality, price and style.
Price: High
Distribution: Selective
Promotion: Advertising & Personal selling
Examples: Tv, clothing
Speciality Products
Unique characteristics or brand identification which consumers make a special purchase for.
Price: High
Distribution: Exclusive in only a few outlets.
Promotion: More carefully targeted promotion.
Examples: A rolex.
Convenience product
-Frequent purchase, Little planning ,low involvment, few differences.
Price: Low
Distribution: Widespread
Promotion: Mass promotion
Examples: Toothpaste, Magazines
Unsought Products
Little Product awareness or knowledge, Price: Varies, Distribution: Varies, Promotion: Aggressive advertising, Personal selling. Examples: Life insurance, blood donations.
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Levels of a product:
Actual Product
Brand, Quality level, Packaging, Features, design
Augmented Product
Delivery & Credit, Product support, Warranty, After sale service
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Product: Anything that can be offered to a market for attention, Acquisition, Use or consumption that might satisfy a want or a need.
Service: An activity, benefit or satisfaction ofeered for sale that is intangible and doesn't result in ownership.
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