Some people feel that marketing is nothing but placing an advertisement that sells a product or service. It is far more complicated than that. It requires many tools, methods, and concepts in order to ensure the product or service success. Marketing requires much forethought and strategies. Marketing needs to be handled in a methodical and organized fashion, otherwise risk for failure is inevitable. Many feel that competition is bad for marketing, yet it is actually a great tool in which marketers can adjust their product or service offerings. Even though healthcare mainly consists of services, these services still need to be sold to the public. This essay is going to demonstrate all of the different tools, techniques, methods, and concepts that can be used while marketing a product from the new product or service stage to the end decline stage. As well as my personal interpretation of various marketing videos that represent the marketing of pharmaceutical drugs. (Fortenberry, J. L., 2010)
There are 4 stages of The Product Life Cycle: Stage 1: Introduction, Stage 2: Growth, Stage 3: Maturity, and Stage 4: Decline. A Product Life Cycle can vary due to various marketplace product or service offerings. Maturity length of time may vary because the end consumer was not prepared to accept the new offerings. Faster maturity breakthroughs can be a direct result of certain production service breakthroughs that usually get accepted quite quickly. Decline of a product or service can be the result of a customer interest and then disinterest. When a product or service does not extend its growth, it can be because the product or service has lost its usefulness. In conclusion, The Product Life Cycle can be used as a marketers planning to...
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...ing that comes to my mind is the pure fact that even after being fined 3 billion dollars GLAXO is still promoting its drugs through physicians by still paying them to speak and building these physicians up in order to convince them to write prescriptions specifically for their medications, while these medications may not always be totally conducive to the care of a patient. The strength of this video is the fact that the public is now being made of the problem, while the weakness is the fact that it appears that the federal government still does not have complete tight control on the pharmaceutical companies as they should. The message being conveyed by this video was to not think that pharmaceutical companies are out there for our best interest, it is solely for their financial interest. This particular video was meant for both the professional and public sector.
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