MKT 100 Lecture Notes - Lecture 8: Sales Promotion, Life Insurance, Netflix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Introduction stage: sales are low, new product category, profits are negative or low, no competitors, product is new, one version, price is penetrative or skimming, promotion. Distributors- sales promotion- to motivate carrying product: place is selective. Growth stage: sales are rising, profits are rapidly rising, more competitors entering market, more versions of product, price is penetrative or skimming, promotion. Distributors- sales promo to mainstream: place is increasing distribution. Extending the mature stage of the life cycle: adjusting product to change characteristics, finding new users, increase frequency of suggested use, different product positioning. Decline stage: sales are declining, profits are harvested, no competitors, product is old, few versions, price is enough to harvest products, no promotion, place has very few distributors. Features that determine when a product may be adopted: relative advantage. Features that are discernably superior to competitors (technological advancements, etc: compatibility. Fits with values and experiences with potential consumers (convenient, accessible, etc: complexity.