University:
California State University, Northridge
Course:
MKT 498A | Marketing Internship
Academic year:

2023
Views:

24

Pages:

1
Author:

Nirr Nirr

Principles of marketing Commercialization is defined by the following: 1) 2) 3) 4) Launch time how the product will be launched Where the product will be launched Will there be a national roll out or will it be region by region? Commercialization is the period where the life cycle of a product starts. A company aims to launch strategically a product or a service to the target market. When a product enters a market, the cost is very high. In addition, this is due to the few number of purchasing customers or those who are aware of it. Skimming strategy is when companies aims to achieve high profits during the introductory period iof the product. Rapid skimming strategy is when the product is highly priced and followed with highly marketing strategy expenditure. Slow skimming strategy is when the promotional effect is weak, but the prices are significantly high. Penetration strategy is when marketers try hard to possess a significant share of the market at the time of the launching of a product or a service Slow penetration strategy is when marketers lean towards controlling the cost by adapting a weak marketing. Consumers are slowly interacting with product. Strategies used in growth stage are the following: 1) 2) 3) 4) Product improvement Shift promotion Place Maturity Subdivisions in maturity are the following: a. Growth (or early) maturity – where sales increase at a decreasing rate. b. Stable maturity c. Decaying maturity Decline is characterized by the following: Loss of profits Stiff competition in the market Production may be stopped in the future