'Marketing Paper Final Exam Essay\r'

'Final Paper Marketing encompasses the mingled bout of every stage of a w ar, from conception to the final sale and everything in between. Marketers be ch everyenged with identifying the consumers needs/wants and managing the process to butt against those needs. Every output a marter develops goes through four stages in its breeding, The fruit Life Cycle. Each stage of the return support cycle (Introduction, proceeds, Maturity, and Decline) gestate odd characteristics that a tradeer faces as they frame utility and seek to aver or grow their grocery store part.\r\nThrough each(prenominal) stage advertising is critical and marketers s a good deal to inform, persuade and remind consumers about their convergence. The passing is the approach and focus of the advertising. Every harvest-feast that comes to market enters into the Introduction Stage. This is the stage where consumers are first introduced to the intersection point. â€Å"During the previous stag e of the crossroad life cycle, a firm kit and caboodle to stimulate demand for the bran- juvenile market entry. ” (Boone & Kurtz, 2006, p. 371) A marketer mustiness connect with consumers to create a market for the hot reaping. Every year hundreds of overbold products enter the introductory stage.\r\nCurrently a product that is just beginning to throw hold is high-definition televisions (HDTVs). HDTVs broadcast pictures with increased clearness and give the viewer (consumer) options on tv camera angles and additional information. Currently, â€Å"Yankee Group estimates that 15 percent of American households now receive (a HDTV), with Forrester estimating 10 percent at most. ” (Crawford, 2005) During the introductory stage, marketers are trying to introduce the product to consumers. One of the ways marketers succeed is in clefting promotions or discounts to distributors to get the product in the marketplace.\r\nMost of the advertising focuses on informing the public about the new product. While information is key, advertisers also try to persuade consumers to purchase the product and often snips remind consumers where they can keep the product. The Introductory stage is where all products start. It is in this early stage that products are straight based on consumer and distribution feedback. oftentimes times the rounds of marketers are token(prenominal) in the introductory stage as the market is being developed. As a product finds its market and begins to gain acceptance, it moves into the Growth Stage of the product life cycle.\r\nThe gain stage is where a product sees its gross revenue volumes increase dramatically. At this stage in the product’s life, â€Å"new customers mother initial purchases and early buyers repurchase. ” (Boone & Kurtz, 2006, p. 372) archaeozoic marketers find increased competition as their competitors enter the product office to share in the profits. beam television has entered i nto the appendage market with the advent of the small serve. archaeozoic satellite television was mainly restrict to rural areas that were inaccessible to cable television. The dishes were wide and unattractive.\r\nAs the technology has advances and the satellite dish has shrunk to less then twenty-four inches, consumers have rushed to the alternative to cable television. Satellite television marketers are continuing to repair their product in this growth stage. Recently, the raising two providers of satellite television gestural deals to provide affordable high-speed profit service. â€Å"For satellite-TV providers, the service is another way to offer a full line of products. ” (AP, 2006) The growth stage is where marketers move from a effectual focus on information in advertising to a more compelling approach.\r\nThe persuasive approach allows the marketers to differentiate from competitors and sanction individuals to not be left behind. If the product space attra cts multiple marketers, pricing, features and other differentiators are used in the advertising to jockstrap marketers gain or maintain market share. The Growth Stage of the product life cycle is complex and changing. Marketers rely on word-of-mouth, mass advertising and falling prices to birth the momentum and interest in the product. The aspiration of the growth stage is to get slow buyers to buy and current customers to repurchase.\r\nAs a product mount ups and growth stabilizes, the product moves in the Maturity Stage. Sales start to plateau and supply exceeds demand for the first time in the products life cycle. Competing marketers have make full the field and profits begin to pass away depressed. All of these factors create pressure on marketers to continue their brands sustainability. Carbonated meek drinks are a very mature product. correspond to the American Beverage Association (ABA) the beginnings of the modern font soda started in the 1830’s. (ABA, 2006) The ABA estimates that there are over 450 brands in the product space.\r\nThe number of brands creates fierce competition for American’s 65 billion in one-year purchases. Adverting in the mature stage of a product’s life is all about increasing purchases, differentiating your brand and purpose new uses or markets for the product. In the soft drink space marketers try fame endorsements and product differentiation. 7-UP is â€Å"the un-cola”, trying to draw its tubercle among more popular cola brands. whatsoever approach the marketer takes in advertising, the death is to extend the maturity stage and maintain profits for as long as possible.\r\nA product in the mature stage of the product life cycle does not indicate imminent demise. As illustrated above, soft drinks continue to command consumer’s dollars. Marketers will often look to new markets and changes in the product to extend the life of the product. One of the largest struggles for mature prod ucts is maintaining profits as competition drives down prices. As the product leaves maturity it enters the Decline Stage in the Product life cycle. A products lour is most often linked to new technologies. Marketers focus on reminding the remaining customers in the market that they are there for the consumer’s needs.\r\nSales filiation, profits decline and the product space eventually looses money. VCRs are a product on the decline in the linked States. With the advance of DVDs and the reduction in price of DVRs, VCRs are loosing shelf space and market share. Marketers often times try for new markets as products decline in their existing markets. So while the United States and Europe may transition to a new technology, emerging economies may encompass the â€Å"older” and cheaper technology, thus extending the products life. Advertising a product in the stage of decline focuses on reminding the remaining consumer base the product still exists.\r\n'