Product Life Cycle
The first stage of the product life cycle, where customers try the product
Introduction
The ability to share your message a lot of people with your advertising
Reach
Advertisements you listen to, perhaps in the car
Radio
What you buy and sell back to the customers
Inventory
This step means you use sound, visual effects, or celebrities to get your customer to watch the commercial
Attention / awareness
In this stage of the business, the company is making consistent profits but it no longer growing exponentially
How often your advertisement is shown
Frequency
These advertisements are often mailed to you
Direct to home (flyers)
Brand value for your business (two words)
Brand equity
In this stage, you deliver the information in an engaging, persuasive manner, talking about benefits over costs
Interest
In this stage of the business, customers are flocking to the product; they see that people have tried and want to try it themselves
Growth
The time it takes to produce an advertisement
Lead time
These advertisements are things you see on busses, large signs as you drive, etc.
Billboards
Earned media that you don't pay for
In order to make a sale, you must convince the customer to buy it. This stage is called
In this stage of the product life cycle, sales are declining and the company has to make a decision about whether to continue to sell the product or not
When your advertisement has to compete with many other advertisements
Clutter
These advertisements have good reach, as many people often read it to see what's going on the world
Newspaper
Durable, consistent products that will generate cash flows
Cash cows
In this stage, businesses use emotional appeal to make you want the product
Desire
These types of customers are the first to try out a new product
Early adopters
The ability of your advertisement to choose a specific target market and appropriate medium
Selectivity
These advertisements are placed in publications and editorials (things you read when you go to the doctor's office or dentist or go shopping)
Magazine
A loyal, specialized customer base, target market that you sell to
Niche
This is an example and way of converting more action for your customers
Call to action buttons, learn more