DQ1_WK5 Essay Example | Topics and Well Written Essays - 750 words

DQ1_WK5 - Essay Example This report provides marketing strategies recommendation for three different products each of which is at a different stage in its life cycle. The first product showcased is Apple’s iPhone. This product is currently introductory or birth stage of its life cycle. The iPhone was the first smart phone with full multimedia capabilities such as internet connectivity that came out in the marketplace. Its touch screen functionality made it very unique. When it was introduced the company took a good first step which was signing as exclusivity contract with A&TT to test the marketplace. A prestigious mobile carrier with 3G infrastructure provided the company with a good partner to introduce the product. The pricing for this product was pretty steep when it came out which limited the demand for the product. The product needs an aggressive marketing campaign in multiple media channels in which the price of the item is deeply discounted to cost $99 or lower. The purpose of this strategy is to penetrate the marketplace and increase market share. Other competitors came out with smart phones which are as good as the iPhone, thus t he luxury price of $500 that apple charged for the product in its inception is no longer viable The second product to be analyzed is Panasonic’s HDTV. The HDTV is currently in the growth phase of its life cycle. Digital televisions sets currently have favorable regulatory market conditions. In February 2009 all the entire television industry is going digital and the analog signal will be gone forever in the United States marketplace (Dtv, 2009). The demand for this product is going to increase. A good marketing strategy for Panasonic is to increase its distribution channels by adding the product to the shelves of more retailers nationwide. The pricing can be lowered a bit to take advantage of the holiday season boost, but there is no need for deep discounting as in the case of the iPhone