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MGT211 GDB Solution

The document outlines 14 future marketing mix strategies that a company called Lux could use as it enters the maturity stage of its product lifecycle. These strategies include maintaining the highest market share possible, expanding into new target markets and developing complementary products, improving product features, style and price through innovation and research, and revising marketing strategies to target new market segments.

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Ahmed Jan Dahri
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1K views

MGT211 GDB Solution

The document outlines 14 future marketing mix strategies that a company called Lux could use as it enters the maturity stage of its product lifecycle. These strategies include maintaining the highest market share possible, expanding into new target markets and developing complementary products, improving product features, style and price through innovation and research, and revising marketing strategies to target new market segments.

Uploaded by

Ahmed Jan Dahri
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MGT211 GDB Solution;

The future marketing mix strategies management could use to sustain Lux on
maturity stage is as follows.

1. Highest level of sales in the market because of awareness about the


product.
2. More sellers will also enter in the market.
3. Completion become very high
4. More & more D & R & innovation in order to add more feature in the
5. Product
6. Searching of new target markets for the product
7. Evolution of new co-product
8. Improvement in features
9. Improvement in style and looks
10.Reduce the price due to more competition.
11.Spend money on research and development.
12.Spend money to promote the brand name of the product.
13.Marketers will also revise their marketing strategies. i.e. They will find new
14.Segments of the market for their product

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