Positioning The Market Offerings Through Product Life Cycle

How companies position their products/services in the mind of target market/market shares?

Let me first discuss what is positioning?

Positioning: is the act of designing a company’s offering and image to occupy a distinctive place in the mind of target market/market shares. Target market/market shares here means number of customers that a company’s target.

Positioning your product/services through product life cycle:

We know that there are four stages in the product life cycle that is introduction, growth, maturity and decline stage. How companies positioned their product/services in the mind of target market when they are in the stage of introduction.

Positioning in the introduction stage: When a company’s product is in the introduction stage so the company do strong advertisements to create awareness in the mind of people about company’s product and services. It is fact because companies offer new products/services how we know about them? The answer of this question is that we know it throw electronic media and paper media.

Positioning in the stage of growth: A stage where companies product/services are becoming popular among the target market and there exists an opportunity to capture more market shares. How companies capture more market shares? Simply by increasing their distribution channels, distribute your products in those areas where it is unknown. May be the customers want to purchase/buy your products/services but they are not aware of it.

Positioning in the maturity stage: A stage where each and every companies wish to be in. in this stage companies don’t need to expend a lot on advertisements because what they were trying to capture they have captured so now in this stage they are supposed to retain their captured customers. They can do this by modification in their products or using a new market segments.