This paper is about a product that I created called Athleishoes in paper I previously wrote (Paper attached) and the second paper attached you helped me further develop a competitive analysis and marketing mix for this same product.
Questions:
Consider the four (4) stages of the product life cycle (introductory, growth, maturity and decline) and define your marketing objectives under each one of the four (4) stages
Explain how you’ll utilize the marketing mix to create your marketing strategy under each one of the 4 stages of the product life cycle. Do not forget to consider the level of competition under each stage before you develop your strategy.
Instructions:
-Essay format (APA)
-3-5 pages, double spacing
-Font: Times New Roman
-At least 6 peer reviewed sources (include DOI in reference page)
-In text citations for each peer-reviewed source.
-No plagiarism
I have attached all the materials that you will need to better understand the product (Athleishoes) but you helped me with the second paper so you should be familiar with this product haha this is an imaginary product I created for this project and is to be launched in the United States.
Answer preview
The price at which Athleishoes will retail is another element for consideration during marketing at the introductory stage (Goi, 2009). Customers need to know much money they have to part with to acquire a set of Athleishoes. Considering I am using social media as my primary marketing avenues, I will have to come up with an advert that outlines, what Athleishoes are, the prices, and where a person can access the products. At the growth stage, Athleishoes should have become relatively established within the footwear industry. The value of using a marketing mix during strategy formulation becomes evident at this stage (Goi, 2009).
The feedback customers provide concerning Athleishoes will help my company attract even more customers. An analysis of the feedback will provide valuable data on consumer preferences, allowing me to alter Athleishoes to satisfy these demands. Understanding the subsisting market dynamics will enable me to know when to increase the prices of Athleishoes and when to reduce them and still remain competitive within the footwear industry (Al-Badi, 2018). Social media marketing will allow me to not only bring new customers on board but also
