Pringles Marketing Project Essay
Overview of Pringles pg.3
Definition of Product pg.4
Product Life Cycle pg.5-6
Importance of Price pg.10
Pricing Methods pg.10-11
Methods of Promotion pg.12-14
Methods of Distribution pg.15-16
Bibliography pg.17 …show more content…
In this stage the product is launched into the market. This is usually the most expensive phase as the company needs to build a brand awareness. As smaller quantities of a product is manufactured each unit is more expensive than it would be if a larger amount of the same product was manufactured. A lot of expenditure is designated to promotion and distribution at this stage.
In the growth phase the product becomes more well-known and sales increase rapidly. The product usually generates a positive cash flow at this stage. Money might need to be invested at this stage to increase production to meet consumer demand. Quality needs to be maintained at this stage.
At this stage the product is generating strong profits. This should cover the expenditure at the introduction stage. Sales usually start to level off at this stage, Companies often use special offers at this stage to increase sales and maintain customer interest in the product. Rival ‘copycat’ products usually appear at the maturity stage.
The last stage of the product life cycle is decline. Sales and profitability will drop here. The marketing manager will have to decide to ether let the product die or to rescue the product by redesigning the marketing mix or by changing the brand image.
I think Pringles are currently at the maturity state of the product life cycle