IMPACT OF MARKETING STRATEGIES ON PRODUCT LIFE CYCLE

Abstract

“Products & Services†is a very commonly used phrase in today’s business world. Many educated people, even some industry professional use this phrase in their discussion because many people have a misconception that product means physical goods. Hence, they use the phrase “product & services†instead of “Goods & services†which is the correct one. The product does not mean only physical goods rather it includes many other things such as services, ideas, events, information and so on.

This paper deals with the impact of different marketing strategies which have been the effective tool available for organization in achieving the marketing goals and objectives. It serves as a determinant for a product movement along the product life cycle. Product can be referred to as anything that a marketer offered for sale. There are ten different items that has been considered as product such as goods, services, events, ideas, information, organization, place, people, property & experiences.