The Efficiency Of Promotional Instruments Related To The Product Life Cycle Stages
Mihaela Marcu () and
Cristina Gherman ()
Additional contact information Mihaela Marcu: „Transilvania” University of Braşov, Romania
Cristina Gherman: „Babes-Bolyai” University of Cluj-Napoca, Romania
Authors registered in the RePEc Author Service: Cristina Balteanu
Regarded as a planning tool, PLC (product life cycle) strongly contributes to the identification of the main marketing challenges that may arise throughout the life of a product/service. Thus, the marketing management has the opportunity to develop and implement those solutions designed to optimize each of the 4P of marketing mix: product (quality), price, distribution (placement) and promotion. The communication program has an essential role, because the company presents through it its "product" to actual or potential customers in order to convince them of the benefits of purchasing/using it. The efficiency of the promotional instruments involves an appropriate allocation of funds needed to promote the product/service in relation to the stage of its life cycle.