Introduction
Profits are negative or low because of the much time and money that will be spent by the organisation to create brand awareness on the market..
Growth
This is the period of rapid sales growth if the product is succesful and properly marketed.
Maturity
Sales slow down as the product sales reach peak as it has been accepted by most buyers.
Decline
Sales and profits start to decline after the maturity period, new pricing strategy can stimulate growth. The product will either have to be re-modified, or replaced within the market.
Possible questions to be asked at class:
Do you at present have products in each of these 4 phases and which products are these?
What marketing strategies can you adopt to prolong the Maturity period?
What pricing strategy will help you reach a big market share quickly, in the Introduction phase?
Other ideas and tips at: http://teachertraining.linguaprof.com/
