The Importance of Product Life Cycle in Media Planning

August 21, 2012

A company’s product life cycle (PLC) has a significant impact on decisions making when it comes to media planning as managers will make different marketing decisions at each stage in a product’s life, for instance, from the beginning with the need to generate awareness for a new product, then ending with the ability to maintain that awareness.

Incorporating PLC in media planning is an essential task that must be continually undertaken. The competitive business environment is undeniable, like shifting market conditions, including the ever-changing customer needs and wants, almost always ensure that what worked in the past will not work in the future, hence requiring media planning revisions in how a product is marketed.

New Product Entry Points

When a new product is introduced, the challenge will be the effort to generate awareness for that product. At this very early stage of market introduction, the use of traditional print and broadcast media is a proven way to create awareness and ultimately demand.

Establishing the Preference

As soon as a product has public awareness, marketers begin creating product preferences among target customers. Establishing that preference over other available offerings requires telling the product’s story through selected media channels. For instance, mass media can be considered including social media as it allows more information to be shared virally.

Competing in a Crowd

Often, this occurs during a product’s mid-life stage where marketers begin to rely on word-of-mouth (WOM) generated through satisfied customers as well as the third-party endorsements such as celebrity endorsements.

Maintaining the Awareness

Once a product is established e.g. Secret Recipe, AirAsia etc., the advertiser’s challenge is to maintain that public awareness. At this stage, mass media platform becomes important in maintaining a general level of awareness for a product where it also raises awareness among new market entrants.

Starting Over

A product or service will eventually reach a point of diminishing returns; media use declines when this happens, provided the marketers are able to introduce a brand extension or a completely new product. Of course, the life cycle starts all over again.

In other words, at every stage in a product’s or service’s life cycle, marketers will critically consider the choices related to generating public awareness, customer preference, demand, and ultimately the purchase decisions.

3 thoughts on “The Importance of Product Life Cycle in Media Planning – GECB Business Review”

Keerthika Shanker says:

August 22, 2012 at 7:56 am

In these burning competitions & tough business evenironment it is necessary to have right media planning strategies for promotions & advertisements. global media planning can help your business to gain more profit through getting more customers.

chenlina says:

March 18, 2016 at 7:57 am

ugg outlet online
copy watches
coach outlet
tod’s shoes
ugg outlet
coach factorty outlet
lebron 13
hollister kids
hollister kids
ugg outlet
michael kors outlet
coach factory outlet
michael kors outlet
michael kors outlet
toms wedges
christian louboutin shoes
ray ban sunglasses
adidas originals shoes
nike uk
true religion sale
kobe 9
louis vuitton bags
ralph lauren outlet
cheap rolex watches
fitflop shoes
asics outlet
tory burch handbags
ugg boots
coach outlet store
kobe 11
jordan concords
coach outlet store online
louis vuitton purses
coach outlet store online
michael kors
ray ban sunglasses outlet
asics shoes
michael kors handbags
adidas superstar
michael kors outlet

Unknown says:

August 15, 2016 at 7:59 am

ugg australia outlet
michael kors bags
louboutin pas cher
ray ban sunglasses
ugg boots
louis vuitton outlet
coach factory outlet
michael kors handbags
ferragamo shoes
adidas pure boost
tiffany jewelry
supra for sale
bottega veneta
birkenstock sheos
air max 90
ghd flat iron
discount oakley sunglasses
rolex replica watches
nike air force 1
tiffany and co
ralph lauren outlet
christian louboutin shoes
nike huarache white
tiffany and co jewelry
oakley sunglasses outlet
ed hardy uk
yeezy boost 350
salvatore ferragamo
coach factory outlet
ray ban sunglasses
cheap ray bans
adidas superstar
coach outlet