Discussion Forum Unit 4 BUS 5112

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Atlanta Technical College *

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MISC

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Marketing

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Apr 3, 2024

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Marketing Strategy over the Product Life Cycle; New Product Development. Perspectives on Electric Scooters and Smartphone Product Life Cycles in Atlanta, Georgia: Product 1: Electric Scooters (Early Stage of the Product Life Cycle) Electric scooters have experienced significant growth in adoption in Atlanta, Georgia. According to the University of Minnesota Libraries Publishing (2015), during the growth stage of the product life cycle, the market for electric scooters expands as consumer awareness and demand increase. This is supported by the fact that electric scooter-sharing services have proliferated in Atlanta (Principles of Marketing, 2015). Electric scooters have gained popularity recently and are still in the early stages of the product life cycle. During this stage, marketing creates awareness, generates trials, and builds a customer base. Product 2: Smartphones (Mature Stage of the Product Life Cycle) Smartphones have been in the market for several years and have reached a mature stage in Atlanta, Georgia. At this point, the marketing focus shifts towards retaining customers, differentiating the product, and maximizing market share. The University of Minnesota Libraries Publishing (2015) states that the smartphone market is highly competitive, with a wide range of product options available to consumers. Stokes (2020) emphasizes the importance of differentiation in the mature stage of the product life cycle to maintain market share and sustain customer loyalty. The Product Life Cycle and Marketing Managers' Decisions: Electric Scooters (Early Stage of the Product Life Cycle): Electric scooters in Atlanta, Georgia, are in the early stage of the product life cycle, characterized by rapid growth and adoption. According to Kopp (2020), marketing managers in the early stage of the product life cycle focus on creating awareness, generating trials, and building a customer base. This is achieved through

aggressive promotional activities, competitive pricing, and targeted partnerships (Principles of Marketing, 2015). While Smartphones , on the other hand, are in their (Mature Stage of the Product Life Cycle): Smartphones in Atlanta, Georgia, have entered the mature stage of the product life cycle. As discussed by the University of Minnesota Libraries Publishing (2015), marketing managers in the mature stage focus on maintaining market share, sustaining customer loyalty, and differentiating their products from competitors. This is done by highlighting unique features, implementing loyalty programs, and engaging in personalized marketing campaigns (Stokes, 2020). Marketing Differences between Electric Scooters and Smartphone Product Life Cycle: The marketing differences between electric scooters and smartphones in Atlanta, Georgia, can be attributed to their respective positions in the product life cycle: Electric Scooters (Early Stage): (a.) Focus on creating awareness and generating trial (Principles of Marketing, 2015). (b.) Aggressive promotional activities, competitive pricing, and targeted partnerships (Kopp, 2020). Promotional Activities: In the early stages, the marketing manager for electric scooters would likely focus on aggressive promotional activities to create awareness. This may include online advertising, social media campaigns, influencer partnerships, and targeted local events. (c.) Pricing Strategy : To attract early adopters and build a customer base, the marketing manager may adopt a pricing strategy that offers competitive prices, discounts, or special introductory offers. This would encourage the trial and adoption of the product.

Smartphones (Mature Stage): (a.) Emphasis on maintaining market share and sustaining customer loyalty (Principles of Marketing, 2015). Marketing efforts may include loyalty programs, exclusive offers, and personalized marketing campaigns to retain existing customers. This could involve providing incentives for repeat purchases, upgrades, and referrals. (b.) Highlighting unique features, implementing loyalty programs, and personalized marketing campaigns (Stokes, 2020). Differentiation: In the mature stage, the marketing manager would highlight the unique features, design elements, and software capabilities that set their smartphone apart. This would help maintain customer loyalty and attract new customers through word-of-mouth recommendations. Recommended Marketing Strategy Improvements: For Electric Scooters (Early Stage): (a.) Enhanced User Experience: Focus on improving the user experience through responsive customer support and user-friendly interfaces. (b.) Expansion into New Areas: Develop strategic partnerships by Targeting Local Partnerships. The marketing manager should collaborate with local businesses, universities, and transportation authorities to establish partnerships. It could involve offering discounts or incentives for using electric scooters as an eco-friendly alternative for short-distance transportation. Electric scooters will increase usage and availability (Principles of Marketing, 2015). For Smartphones (Mature Stage):

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(a.) Differentiation through Innovation: Emphasize continuous innovation and highlight advanced features to differentiate smartphones from competitors (Principles of Marketing, 2015). (b.) Customized Marketing Campaigns: Develop targeted marketing campaigns that cater to specific consumer segments in Atlanta, emphasizing features aligned with their preferences (Stokes, 2020). In conclusion, understanding the product life cycle and its implications for marketing decisions is crucial for marketing managers. By recognizing the differences between the early stage of electric scooters and the mature stage of smartphones in Atlanta, Georgia, marketing managers can tailor their strategies to maximize market opportunities and sustain their products' success. Overall, the marketing strategy for products in the early stages of the product life cycle focuses on generating awareness and trial. In contrast, the strategy for mature products emphasizes differentiation and customer retention. By implementing the recommended improvements, the marketing managers can effectively navigate their product life cycle stages and achieve their marketing objectives.

References Kopp, C. M. (2020). Product life cycle . Investopedia. https://www.investopedia.com/terms/p/product-life-cycle.asp. Migrator, (2019). Product life cycle. NIBusinessInfo.CO.UK. https://www.nibusinessinfo.co.uk/content/product-life- cycle. Principles of marketing. (2015). University of Minnesota Libraries Publishing. https://doi.org/10.24926/8668.1901 (Original work published 2010). Section 7.2 – Managing New Products: The Product Lifecycle. Stokes, R. (2020). eMarketing - the essential guide to marketing in a digital world. LibreTexts. (15). Content marketing strategy . https://biz.libretexts.org/Bookshelves/Marketing/Book %3A_eMarketing__The_Essential_Guide_to_Marketing_in_a_Digital_World_(Stokes)

Discussion Forum Unit 4 BUS 5112

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