Marketing - Product Life Cycle

The video tutorial explains the importance of promotion in marketing and introduces the concept of the product life cycle, which models the sales of a product over time. It describes the stages of the product life cycle: introduction, growth, maturity, and decline, and discusses how promotion strategies should be adapted to each stage to effectively target the audience and maximize sales.

What is the product life cycle and why is it important for marketers?

Describe the different stages of the product life cycle.

How does promotion strategy change during the introduction stage of a product?

What challenges do marketers face during the maturity stage of the product life cycle?

In the decline stage, what is the primary goal of marketing efforts?