Description:

Product life cycle-driven marketing strategies involve the systematic planning and execution of marketing activities across the various stages of a product's life, from introduction to decline. By understanding and adapting to the unique characteristics and demands of each stage, businesses can effectively manage product profitability, market share, and consumer perception. These strategies encompass proactive measures such as product innovation, pricing adjustments, promotional campaigns, and distribution channel optimization to capitalize on opportunities and mitigate challenges throughout the product's life cycle.