Answer to Question #318615 in Marketing for KANYINGA

Question

Explain in details how the life cycle affects promotion?

Answer 1

When a product is successfully introduced into the market, demand increases, therefore increasing its popularity. These newer products end up pushing older ones out of the market, effectively replacing them. Companies tend to curb their marketing efforts as a new product grows. That's because the cost to produce and market the product drop. When demand for the product wanes, it may be taken off the market completely