need help with this one
One of your company’s most important products is in the maturity stage of its product life cycle and has been for awhile. Now the competition is taking aim at your product. What marketing strategies are the most appropriate in this situation? Discuss strategies for each element of the marketing mix. Which strategy would you use first? Why?
2007-12-19 04:50:02 · 4 answers · asked by Anonymous in Business & Finance ➔ Advertising & Marketing ➔ Other - Advertising & Marketing
Question is too "loose" it would depend on wether your product is a one time sale type such as a piece of machinery that lasts years or a consumable such as a piece of cheese.
The best way to deal with competition is to learn their strengths and weakness.
For instance we sell vacuum sealing equipment, to retail and industrial customers, our strength is our small size as a company compared with Giants such as Foodsaver.
We probably net double per sale than does Foodsaver due to our lower costs in marketing and overhead.
I have been a salesman 50 years owned many business's and remember " A sale is not a sale until its paid for" (Its an unpaid order) if you give credit terms to your customers.
To sum up the first thing I would do is make sure I contact all of my past customers and thank them for their purchase then offer an incentive to buy from my company if the product is a conumable...Ever bought ink for you printer online ? over 50% of the companies selling you the ink NEVER contact you again....Get the point (You probably forgot where you purchased it )
2007-12-19 05:09:53 · answer #1 · answered by davejoyce1286 2 · 0⤊ 0⤋
it will give us a better idea if we knew what your product is.
The best way to make success with your product would be to bring your company more closer to your product consumers(existing and potential). I would make my consumers feel more at home with us guys than our competitor. You know, like we really care more about them than our profits. (at least look that way).
That would definitely increase our potential customers, i think. Too bad my boss isn't open to such sort of ideas
2007-12-19 05:19:19 · answer #2 · answered by svenus 1 · 0⤊ 0⤋
to increase the product life u can use R&D for that product....by introducing new elements in ur product u can increase its life for a short period.
2007-12-19 04:57:01 · answer #3 · answered by u i 1 · 0⤊ 0⤋
cazzo 4 ever!!! italia the best, aber, ich bin.. ich weiss es nicht.. schooooon?? hallo kind
2007-12-19 04:57:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋