Essay: Growth Stage of Product Cycle

24 Oct

Essay: Growth Stage of Product Cycle

Sample Essay

 In this stage the firm seeks to increase sales revenue and the market share. In this stage the prices drops due to economies are of scale and become a low cost producer, further, the product is well established and competitors begin to enter in to the market.

The growth strategies are most applicable in this stage and this is attained through vertical or horizontal integration, diversification or intensifications.

This stage requires heavy investment to make adjustments in the marketing mix and there is a beehive of activities in this stage. The products may be modified to fit in new markets; this may include servicing and new packaging of the product. The prices may include discounts and may drop due to increased drop and need to maintain an increasing market share. This stage ensures that the costs reduce, distribution increases, sales increase and the profit margin rises, more so, in this stage, product differentiation is essential as competitors begin to set in to the market.

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