Question: Please complete the table by inserting the terms listed underneath note that each term is only used once you can simply write the number in
Please complete the table by inserting the terms listed underneath note that each term is only used once you can simply write the number in the right box. Each of the terms is worth pt
Marketing Mix
INTRODUCTION
GROWTH
MATURITY
DECLINE
Product
Price
Place
Promotion
Build intensive distribution
Utilize sales promotions to generate consumer trials
Progressively phase out poorer selling product lines
Increase product differentiation and augmentation
Build selective distribution
Price to maximize profits as sales decline
Use price skimming or penetration depending upon latent demand
Utilize sales promotion to encourage brand switching
Promote the brands positioning and competitive advantages
Create awareness among innovators and suitable channels
Expand product line extensions
Offer a single or basic product only
Use penetration pricing to gain market share
Utilize sales promotions to win market share
Reduce distribution channels
Promote to early adopters and the early majority
Use competitive pricing
Maximize intensive distribution
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