CHAPTER ONE

1.0   INTRODUCTION

The effect of marketing strategy on Product Life Cycle (Plc) is adopted in order to forecast the activities involving the strategy in the stages in the Product Life Cycle (Plc).

Its successful accomplishment requires analysis of the data from the past decision in the present, and evaluation of the future.

However, the company’s position and differentiation strategy must change the product, market and competitors changes over the Product Life Cycle (Plc).

To say that a product has Life Cycle (LC) is to assert four things:

1.          Product have a limited life

2.          A product sales pass through a distinct stage, each posing different challenges, opportunities and problem to the seller.

3.          Profit rise and fall at different stages of the Product Life Cycle (Plc).

4.          Product requires different marketing financial, manufacturing, purchasing and human resource strategy in each Life Cycle (LC) stage.

Most Product Life Cycle (Plc) curves are portrayed as lock-shaped.  This curve is typically divided into four stages:  Introduction, growth, maturity and decline.

In the functional units of the telecommunication industry, the responsibility of ensuring that the product stayed long in the market depends on the efficiency of the marketing unit in the firm; which will also look at the ways at which product are developed i.e. the right product for a target market that will come in either physical goods or service or a blend of both; though reaching the target market, which is concerned with getting the right product to the target market place as a product is not much good to the customer it is not available when and where it is wanted.

1.1   STATEMENT OF GENERAL PROBLEMS

The major problem of product life cycle has to do with inefficiency of the executive, which make it difficult to achieve success in the various stages of the LIFE CYCLE curve.

So many products have died before they were being lunched into the market because of the poor introduction of marketing strategies.  Therefore, a lot of companies are into debt to remain in operation.

Producers are no longer interested in marketing profitability or profitable sales through satisfying customer’s needs, but they are only interested on marketing high profit which consequently has lead to inflection as one of the major problems facing product survival within the business world.

Irregularity like bribery an corruption practices, blackmailing so as to gain large market share between companies and competitors, companies no longer use quality and efficient service delivery to gain large market, but instead they use obsolete equipment in providing services which result into poor service delivered at an exorbitant price all in the bide to make high profit, therefore, this project will look at the effective way of applying the marketing strategy to gain good and healthy result on the cycle of a product, and also it will highlight the impact the concept has made in telecommunication world especially in MTN service in Nigeria.

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