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Q: How does the promotional mix change over the product life cycle?
A: A product life cycle is the typical stages a product goes through during its lifetime. The product life cycle is broken down into five different stages, which include the development, introduction, growth, maturity and decline stages of the product. [ Characteristics for each stage differ and in response to the different needs of the product as it moves through its life cycle, the market mix
(various marketing tactics) used during these stages differ as well. Understanding the product life cycle can help business owners and marketing managers plan a marketing mix to address each stage fully. ]
MrG|Points 562|
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Asked 8/14/2012 6:15:02 PM
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