Explain the strategies to be adopted during the Introduction Stage and

Explain the strategies to be adopted during the Introduction Stage and the Growth Stage of Product Life Cycle.

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Marketing Strategies for Introduction Stage :

Introduction stage is marked with slow growth in sales and a very little or no profit. Note that product has been newly introduced, and a sales volume is limited; product and distribution are not given more emphasis. Basic constituents of marketing strategies for the stage include price and promotion. Price, promotion or both may be kept high or low depending upon market situation and management approach.

Marketing Strategies for Growth Stage : This is the stage of rapid market acceptance. The strategies are aimed at sustaining market growth as long as possible. Here the aim is not to increase awareness, but to get trial of the product. Following Strategies to be adopted during Introduction & Growth stage.

Basis	Introduction	Growth
Product	Offer a basic product	Offer product extensions, service, warranty
Price	Use cost-plus	Price to penetrate market
Distribution	Build selective distribution	Build intensive distribution
Advertising	Build product awareness among early adopters and innovators	Build awareness and interest in the mass market
Sales Promotion	Use heavy sales promotion to entice trial	Reduce to take advantage of heavy consumer demand

Explain the strategies to be adopted during the Introduction Stage and the Growth Stage of Product Life Cycle.

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