Mkt/571 Week 3 Assignment: Promotion And The Product Life Cycle

Promotion and the Product Life Cycle: Dannon Student NameCourseDateInstructorProduct Strategy: Differentiation StrategyThere are many product strategies such as differentiation, low cost, and market segmentation, which means a Dannon Company, must choose the strategy that best suits the business. Based on the fact that Dannon Company’s product line is dairy products such as cheese, frozen desserts, milk, Greek yoghurt, and novelties, the best strategy that suits the business in the dairy products industry is differentiation as this strategy provides different ways of differentiating products and services (Keller, 2006). Features that enable differentiation of such products include product form and product features, style and design, ordering ease, product performance levels, customer service, as well as reliability and durability (Barney, 1991). Product Life CycleThe product life cycle has four stages: introduction, growth, maturity, and decline. In the introduction stage, a product is introduced for the first time, a period characterized by growing sales and nominal profits. The market is uncompetitive and companies use advertisements and promotion initiatives to not only motivate but also create awareness among consumers, which leads to