The four primary stages of a brand in its life cycle have an impact on the timing, intensity, and messaging of promotional activities. Despite the different industries, categories or markets products occupy, this profiling can play an integral role in how to support your brand. Pacific Marketing Group incorporates different strategies for each stage to optimize point-in-time outcome.

Introduction Stage

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Market Objective — penetrate market The introduction stage is where a new product is launched. In this stage you must stimulate primary demand by creating awareness, generating interest and promoting trial. It is important to get the message out and identify benefits. The expense associated with this stage is typically higher because you are creating a foundation for marketing materials.

Growth Stage

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Market Objective — maximize market share early This stage is where sales volume starts to increase and more competitors are entering into the market, introducing more brands and creating pricing pressure. In this stage it is important to differentiate your product, grow market share, build customer loyalty and brand recognition. Promotional activities should educate the target audience about your product, why it is better, why they should buy from you.

Maturity Stage

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Market Objective — fight for market share In this fight-for-your-life stage, the marketplace becomes somewhat saturated; there are numerous competitors; sales volumes plateau. This is the beginning of a shake out stage and any market share will be at the expense of your competitor. Promotional activities are increased as the fight for market share intensifies. At this stage it is important to further differentiate your product and hope previous efforts to build customer and brand loyalty have worked. Brand and customer loyalty campaigns should be continued to remind customers why your product is better than the competitions.

Decline Stage

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Market Objective — minimize effort and time to maintain market share This stage is characterized by declining industry orders primarily due to obsolescence. There is typically little promotional activity in this stage.