Paper Example on Product Promotion: Addressing Life Cycle Challenges

Introduction

All products and services in the market undergo lifecycle with five stages, including introduction, growth, maturity, and decline. These stages dictate promotional strategies organizations use to advertise their products and sustain their operations (In, 2018). Therefore, it is necessary to identify the best product strategy that would address the challenges encountered in these stages. The essay discusses product promotion as the products strategy that addresses organizational needs across different stages of the life cycle.

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Product Promotion

Product promotion helps to address challenges encountered at the growth, maturity, and decline stage. The first print media used is newspaper advertising. It is the method of using newspapers to advertise the products (Schlegelmilch, 2016). The technique is useful in the growth stage since the marketing team focuses on a particular market, such as elderly customers who are not fond of using the internet. Moreover, the technique is critical since customers keep information for future reference.

Another printing marketing strategy to use is designing leaflets aimed at attracting more customers. The method is cost-effective since the company makes one original copy and the rest photocopies distributed to customers visiting the shops and salespeople distribute them to customers in various institutions (In, 2018). For example, at the growth stage, the challenge is sustaining the sales since most customers are aware of the company and its products. At the majority stage, sales are at the peak, but they will decline afterward if the marketing team cannot create a positive customer relationship. The decline phase experiences a decline in sales and using leaflets would reduce the cost of marketing; thus helping to maintain the income.

The non-print media to use in managing challenges encountered in different stages of the product life cycle is Facebook advertising. The company entices customers to review products of the company by rewarding them for each review they give that can be positive or negative (In, 2018). The technique is useful in the different stages of product life cycle like at the maturity stage because it helps to understand the value customers get and strategies to use in improving sales. At the decline stage, Facebook helps to keep customers informed, and their reviews help to know how to sustain organizational sales through product advancement.

Finally, public relations activities are another strategy to use in managing challenges encountered from growth to decline stage in the product life cycle. The importance of building public relations is to keep customers, especially at the decline stage since the company will have repeat customers (In, 2018). Simple public relations activities include saying thank you to customers and appreciating them online through Facebook. The technique contributes to keeping customers. In this regard, factors influencing the launch of products include competition and stage of the life cycle.

How to Measure Marketing Activities

The first way to measure marketing activities is by evaluating customer feedback. The marketing team will engage customers to help in identifying the efficiency of the marketing activity. It is essential to welcome positive or negative reviews so that the marketing team can analyze the feedback and comment on the effectiveness of the promotional strategy (In, 2018). The second metric is comparing organizational sales after implementing a different marketing technique. The marketing team expects to increase organizational sales, and that is why it engages in extensive promotions. However, a decline in sales means that the marketing function has not been practical, suggesting a need to review the promotional programs. Therefore, product sales help to measure the effectiveness of the promotional techniques.

Conclusion

Organizational life cycle shows different stages a product undergoes. The phases include introduction, growth, maturity, and decline. Understanding these stages is essential because it helps to develop adequate promotional programs to counter challenges at each step. The promotional strategies to use include newspaper advertising, leaflets, Facebook advertising, and building positive public relations. Metrics for measuring marketing effectiveness include assessing reviews from customers and comparing organizational sales.

References

In, L. (2018). Diverse methods in customer relationship marketing and management. New York: IGI Global.

Schlegelmilch, B. (2016). Global marketing strategy: An executive digest. London: Springer.