Asked by Jacob Rutgers on May 02, 2024
Verified
In which stage of the product life cycle would a firm most likely use price promotions and reminder advertising to encourage customers to replace worn-out items?
A) growth
B) decline
C) maturity
D) introduction
Price Promotions
Short-term strategies to reduce prices of products or services with the aim to increase customer interest and sales.
Reminder Advertising
A type of advertising aimed at keeping a brand or product in the mind of consumers, emphasizing brand recall.
Product Life Cycle
The series of stages a product goes through from introduction to the market to its decline and eventual withdrawal.
- Gain insight into the primary features and marketing techniques related to each part of the product life cycle.
- Understand the role of price, promotion, and customer satisfaction in the product life cycle framework.
Verified Answer
Learning Objectives
- Gain insight into the primary features and marketing techniques related to each part of the product life cycle.
- Understand the role of price, promotion, and customer satisfaction in the product life cycle framework.
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