Marketing Strategy on Different Stages Plc and its Marketing Implications on Fmcg Products

Abstract

world of fast moving consumer goods is possibly the hardest, cruelest and disciplined industries all them all: The sheer science, and extraordinary thought, the investment in consumer and competitor analysis for truly focused market orientation, the value validity and constancy of marketing knowledge determines market share, profitability and survival.A number of variations of the Industry Life Cycle model are used to direct the focus of the marketing activities during each phase of the model. Launch Engineering helps FMCG businesses be more productive, improve branding, expand marketing communications, control ad agencies and refine category management. FMCG outcomes include an easier, faster path to trial and brand adoption. Special proprietary (pre-launch) new product pre-launch assessment tool almost eliminates the chance of a product launch not going to plan; advanced market segmentation methods give you a competitive 'edge'. Improved returns from advertising, trade spend (sometimes called promotional budget), sales promotionsapublic relations (prapublicity) pays for FMCG consultancy fees many times over! Most of the models are similar in respect of the direction provided in respect of the marketing effort and focus, despite the fact that they differ as to the number and names of the stages. Despite the criticism of the product life cycle model during the mid 70's, by a number of authors, the model continues to be a valuable tool for marketers. This criticism came about as a result of some product life cycles that started shrinking and others that were increasing without any apparent reason and other products that did not reflect the usual shape of the product life cycle graph. FMCG persisted with the use of the product life cycle concept continued to have a competitive advantage over those who did not. It is clear that the use of the model has a significant impact on the success of the business strategy and the associated corporate performance. The goals in respect of strategy, competition, product, price, promotion and distribution will be different for the different stages of the product life cycle. This article is focusing on a number of the primary product life cycle management techniques that can be used to optimize a product's revenues in respect to its effective positioning in a market during the introduction stage of the product life cycle.

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