Microsoft Word marketing doc

Marketing Mix Modification Strategy : 
Price reduction or enhancement, increasing of advertising expenditure or 
changing of advertising message or copy; stepping up of sales promotion 
though trade deals, discounts, gifts and dealer contests, etc., increasing the 
number and quality of sales people and rendering additional services like 
extending more technical assistance and credit, are some examples of the 
modifications of marketing mix. 
This stage characterize, 
i)
Relatively low prices 
ii)
Increased marketing cost 
iii)
Keener competition. 
iv)
Lessor Profits. 
4. 
Market Decline Stage: 
The final stage of the life cycle of a product is the decline, the death. 
The sales and profits of all the products ultimately decline, through the 
decline may be slow in the case of some of them and rapid in the case of others. 

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The important reasons for the decline of the sales of the products are 
shifts in consumer tastes, technological advances rendering the existing 
products obsolete, and increased domestic and foreign competition. Many 
companies withdraw from the market due to the sales and profit decline and the 
remaining one reduce the number of product offering and reduce further the 
prices of their products. 
A company must continuously watch and review its product and identify 
the aging ones in the decline stage of their life cycle. Thereafter, it should adopt 
appropriate marketing strategies to deal with them, depending upon the 
industry’s relative attractiveness and its own competitive strength in the 
industry to which its product in the decline stage belongs. 
Criticism of the Concept of product life cycle 
The theory of the product life cycle and the product life cycle concept 
have been bitterly criticized by many authors and marketing management 
experts. 
Some critics say that life cycle patterns are too variable and the stages in 
the product life cycle do not have predictable the span. 
Some citric change that the marketer cannot often tell what stage the 
product in. 
At each stage of the product life cycle, every company needs to develop 
its own strategy rather than using the one every one also is using. 
However, the product life cycle concept is an important tool which 
marketers can use for forecasting planning and controlling.