Microsoft Word marketing doc

1.
Introduction Stage : 
This stage is characterized by slow growth, negative or very low profits 
due to heavy distribution and promotion expenses, few competitors, small 
number of buyers usually belonging to high income group, high prices due to 
relatively low production and high production cost and frequent product 
modification. 
Hence, a company must choose the strategies carefully and not 
arbitrarily. 
2. Growth 
Stage: 
Rapidly rising sales and increasing profits are the distinctive features of 
this stage. In this stage of number of competitors increases and the 
manufacturers make first major product improvements. 
The companies use various strategies in the growth stage of their 
products with a view to sustaining market growth for the longest possible period 
of time. 

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3. Maturity 
Stage: 
In this stage, the product covers mass markets. Manufacturers come 
forward with new product models oriented towards style. There is further 
decline in prices and dealer margins and profits decrease. Towards the end of 
this stage level of sales starts to decline and customers start moving towards 
other products and substitutes. 
One of the important marketing strategies pursued by the companies in 
this stage of their products is market modification. This includes conversion of 
non users into users, entering new market segments and winning competitors, 
customers, with a view to expanding the number of brand users, and getting 
current brand users to increase their usage of the brand by using it more 
frequently, using more of it per usage occasion and making new and varied 
uses. 
Another strategy is product modification under which the marketers take 
resort to product quality improvement, feature improvement, and style 
improvement. This amounts to product re-launch.