The demand for DVD players have declined significantly since 2007. Consumers are more interested in streaming rather than playing DVD players. What would be an appropriate marketing objective for DVD manufactures at this stage of the product lifecycle?
a. Create product engagement and trial
b. Maximize market share
c. Maximize profit while defending market share
d. Reduce expenditure and milk the brand
d. Reduce expenditure and milk the brand
DVD players are at the decline stage of the Product Life Cycle. Creating product engagement and trial is for the Product introduction stage, maximizing market share is for the growth stage while maximizing profit while defending market share is for the maturity stage. Hence, Options A, B and C are incorrect. At the declining stage, the market share of the DVD shall reduce hence it is advisable to reduce the expenditure on such a declining market and milk the brand to the extent possible. Hence Option D is correct.
The demand for DVD players have declined significantly since 2007. Consumers are more interested in streaming...
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