MKT 100 Study Guide - Final Guide: Price Ceiling, Business Ethics, Marketing

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Plc defines the stages that new products move through as they enter, get established in, and ultimately leave the marketplace and thereby offers marketers a starting point for their strategy planning. Introduction stage: usually starts with a single firm. Innovators are the ones to try the new offering. Initial losses due to its high start-up costs and low levels of sales revenue. Industry shakeout: firms that have not established a stronghold in the market deciding to exit. Entry into new markets or market segments. Due to highly saturated market, firms may attempt to enter new geographical markets, international markets. Decline stage: firms position themselves for a niche segmentation of diehard consumers or those with special needs, firms may completely exit the market, few laggards enter the market. In theory, bell-shaped with regard to sales and profits. In reality, each product has its own individual shape.