The introduction stage is the initial phase of the product’s life cycle, where a new product is introduced to the market. It is characterized by many unique aspects, as outlined in this article.
Key Characteristics of the Introduction Phase of the PLC Find Out More...
New-to-the-world products onlyWhen we look at the product life cycle, we are generally considering products that are new to the marketplace. That is, these are products that are not normally purchased by consumers. We are not looking at products that are new to the firm, but are new to the market.Therefore, in the introduction phase,
Introduction Phase of the PLC Contains New-to-the-World Products Find Out More...
Product life cycle = stages of “life”The product life cycle (PLC) is a very common concept across all marketing textbooks. From the words “life cycle”, you should see the connection between a product and a biological life. Just as plants and animals progress through a life cycle, so does a product.Typically, in most marketing textbooks,
Overview of the Product Life Cycle (PLC) Find Out More...
Following the period of growth, a market will reach the maturity stage of its product life cycle. This means that there is limited growth – usually in line with the economy – left in the market. Sales have maximized and are unlikely, generally, to change significantly in the foreseeable future. In other words, the market
The Maturity Phase of the PLC Find Out More...
Key challenges of conducting international marketing researchSo what are the main challenges of conducting marketing research in international markets?In terms of market research tools and techniques, the approaches are generally similar, with the same intention of gathering and analyzing information for input into key marketing decisions. However, there are a number of additional challenges to
Domestic versus international marketing research Find Out More...
In these ATAR forecast examples, we will consider two small businesses. The first is a coffee shop in a local area, who is forecasting a new product idea to see if it is viable.
ATAR Examples for Two Small Businesses Find Out More...
Your guide to the key financial metrics for marketers: net present value (NPV), pay-back period, internal rate of return (IRR), marketing return on investment (ROMI), and overall profitability.
Marketers Guide to Understanding Financial Metrics Find Out More...
The ATAR forecasting model is designed to forecast sales and profit of new products following its launch. Find out how to use this model to improve your marketing forecasts.
How the ATAR Forecasting Model Works Find Out More...
Need help with your ATAR forecast for your new product launch? Let’s dig into the details of prices, margins, costs, and purchase volume and frequency.
ATAR Model: Guide to Prices, Costs, Margins, Quantity Find Out More...
Nothing destroys the credibility of a business report faster than inaccurate or wildly optimistic financial forecasts. Review these simple tips for marketing forecasts.
Marketing Forecasts Reality Check Find Out More...
