Introduction stage

Posted in Marketing and Strategy Terms, Total Reads: 1581
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Definition: Introduction stage

The first stage of the product life cycle is called introduction stage. In this stage a product is launched into the market and the consumer uses the product on trial bases. This is the prime stage for the promotion and creating awareness about the product and informing the consumers about the perceived benefits.

This initial stage is also important as once an image is set into the mind of the consumer it is difficult to break it.

Introduction Stage

Initial promotion and discounts can be helpful to promote the product but the main focus should be on providing value to the customers rather than focusing on making quick profit.

 

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