Doing well and doing good
•The course of a products sales and profits over its lifetime is called theproduct life cycle. •PLC shows the stages that products go through fromdevelopment to withdrawal from the market. •Product Life Cycle (PLC):
–Each product may have a different life cycle.
–PLC determines revenue earned.
–Contributes to strategic marketing planning
–To identify when a product needs support, redesign,renovating , withdrawal, etc. NTRODUCTION TO LUX:
•We all want to be pampered, to look and feel great And that's just what Lux offers you on adaily basis at a price you can afford. •Lux is the brand of UNILEVER INDIA LTD. It has been winning hearts of INDIAN consumersfor 80 years. •Lux stands for the promise of beauty and glamour as one of India's most trusted personalcare brands. LUX PRODUCTS :
Lux had modified their product into
launched the world’s first mass-market beauty soap in the
US in 1924
& had been launched in
India in 1929
•At that time there was only one competitor of Lux, which was from its own brand“LIFEBUOY”.•In the initial stages Lux was introduced in the major cities of INDIA like Calcutta, Mumbai etc.
•MARKETING OBJETIVES -
was to create the product awareness and to attract thecustomers towards the product.
in the initial stages :
They offer only on product in the market. They did not come up with thedifferentiated product.• Price =
In the initial stages of the product, they offer the relatively higher price than their competitor (LIFEBUOY). Because, they want to recover their initial cost of making theproduct. STAGE
In the initial stages, they allocate more advertising budget So that more andmore customers could be attracted towards the product.•In ads they targeted the early adopters
, who were readiest to buy the product.•The first ambassador, Leela Chitnis.Distribution =
was selective and only covers the major cities of INDIA to get recognition inthose cities.•Their distribution channel was through: Manufacturer Wholesaler & Retailer
Introduction Stage of the LUX
SalesCostsProfitsMarketing ObjectivesProduct StrategyPrice StrategyLow salesHigh cost per customer NegativeCreate product awareness in major cities in IndiaOffer a basic productUse cost-plusDistribution StrategyBuild selective distributionAdvertising StrategyBuild product awareness among early adoptersand dealers. growth
In the growth stage, their sales rapidly started rising.•They have expanded their market to the other cities of INDIA.
•MARKETING OBJECTIVES =
The marketing objectives of the Lux were to expand their market to the other cities of INDIA.•Another objective was to maximize more market share.
•In the growth stage, company had the following
MARKETING STRATEGIES :
In the growth stage, the company had offered the same product in the market.• Price =
In this stage, the company had changed their price to some extent because of maximizing the market share. ( Slightly cut down the prices )• Advertising =
In the growth stage, they had increased their advertising budget as in theinitial stages because of attracting the new customers or to retain the existing customers.• Sharmila Tagore, Hema Malini, Zeenat Amaan, Juhi Chawla, Madhuri Dixit, Sridevi Distribution =
In this stage, company had expanded their market to the other cities of INDIA. Their distribution channel was the same as in the initial stages of the product.
In the growth stage, the company had also used the different proportioningstrategies to...