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Maturity Stage
In the product life cycle the maturity stage is that stage where sales growth slows or levels off. Product managers can have to do more than easily defend their products. Mostly products are in their maturity stage, and therefore, management contains the most experience with this stage.
a. Market modification is approach in which the company tries to raise the consumption of the existing product. It looks for new users and market segments. It tries to raise usage among existing customers. It can also reposition the brand to appeal to a bigger or faster-growing segment.
b. Product modification is approach to modify product characteristics. It can be accomplished by quality development, feature improvement, or style improvement.
c. Marketing mix modification is an approach in which the manufacture manager tries to increase sales by modifying one or more marketing mix elements.
Level of the market segmentation 1. Segment marketing: a market segment consists of a large identifiable group within a market with similar wants, purchasing power, g
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Elements of the marketing: the marketing thinking starts with the customer needs. Today each marketer wants to retain and satisfy the customer because of the intense competition.
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Customer's mental process of judging value: 1. The customer assigns weight age for each benefit; different benefits gain different weight age, depending on the priority
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