Figure 16-3

-Persuading the consumer to buy the product rather than substitutes is the promotional objective during which stage of the product life cycle as shown in Figure 16-3?

Question

Figure 16-3
 
-Persuading the consumer to buy the product rather than substitutes is the promotional objective during which stage of the product life cycle as shown in Figure 16-3?

Quizplus · Accepted Answer

The growth stage is characterized by an increase in demand for the product and an increase in competitors entering the market. The promotional objective during this stage is to persuade consumers to choose the promoted product over substitutes. In the introduction stage, the promotional objective is to create awareness and build interest in the new product. In the maturity stage, the promotional objective is to maintain market share and differentiate the product from competitors. In the decline stage, the promotional objective is to phase out the product or revitalize it through targeted marketing efforts.

Figure 16-3 -Persuading the Consumer to Buy the Product Rather Than Substitutes