Published Paper Details:

In this era of competition every company has different marketing strategies for their products. Every company comes with a unique marketing strategy to counter their competitors and to gain major portion of the market. Products too have a life span like a person. Products too take births, grow, mature and demolish. The stages of introduction growth, maturity and decline called the life cycle of a product. Every company wants their products to have a long life cycle so they can enjoy profits for a long period of time but in the era of rapid technological change it is difficult for companies to make survival of their products. They have to adopt different marketing strategies to survive in different phases of product life cycle. The understanding of product life cycle and marketing strategies can help an organization to understand and realize when it is time to launch and withdraw a product from market. Thus, the purpose of this paper is to understudy the product life cycle and its marketing management strategies. Finally, the study shows that the value of Marketing strategies and when products move through their life cycle process, different marketing management strategies are developed and applied as appropriate.