Fossil case Essay Example | Topics and Well Written Essays - 2000 words

Fossil case - Essay Example ed by Fossil can be clearly construed as heterogeneous in nature, which is so because the customers would tend to search for the products first and then chose the one which suits them best and satisfies their wants. The essential characteristics of such products and the consumer decision making is listed below. The sequence of product lifecycle is where a new product evolves through series of stages over a period of time. These stages are the development of the product, moving to introduction, then growth, maturity and finally decline. There reason that has been associated with the changes in the product life cycle and the creation of such a sequence is change in the situation of marketing which resultantly affects the marketing strategy and marketing mix,. Marketing mix is commonly referred to as the 4 P’s of marketing. These 4 P’s are the parameters that the marketing manager can control subject to the internal and external constraints of the marketing environment. Pricing is a main feature of the marketing mix and the only one which generates revenue. It would be better for the company to increase the buying capability of the customers to gather larger revenue