Abstract Views :348 |
PDF Views:0
Authors
Affiliations
1 D- 36, Sector- 1 Shankar Nagar, Raipur (C.G.), IN
Source
Asian Journal of Management, Vol 8, No 2 (2017), Pagination: 155-162
Abstract
This is an existing fact that development of every product goes through typical stages during its lifetime known as its product life cycle which includes four important stages namely the introduction stage, growth stage, maturity stage and decline stage. Similarly, DVD players also has to undergo all these four stages of its product life cycle differently along with which marketing mix also varies differently at every stage. Marketing mix is crucial while determining a product with the implementation of 7 P's. These 7 P's stands for Pricing, Product, Promotion, Place, People, Process and Physical evidence. The newly introduced 3 P's are People, Process and Physical evidence among the 7 P's and these 3 P's shows applicability on service industries so are applicable on DVD players because it not only a physical good but rather with it a service. Services are mostly intangible and output of individuals or performance of an individual. Promotion which is one of the 7 P's emphasizes on product differentiation which is very necessary for DVD players to survive in the market. DVD players have reached the maturity stage, the arrival of Blu- ray players have succeeded DVD players and DVD players can be renewed only with the help of product differentiation as it will eliminate the competition with similar products and will give DVD players uniqueness in comparison with other similar products, thus increasing its sales. But this does not have any empirical support due to which the actual number of sales of DVD players cannot be predicted.
Keywords
Marketing Mix, Product Differentiation, Advertising, Skimming Strategy, Growth, Maturity, Decline.
