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Non-profitable organizations, also known as nonbusiness entities, operate with the primary aim of serving collective, public, or social interests rather than generating profits for private individuals. The marketing mix—encompassing product, price, place, and promotion—serves as a guiding framework for these decisions.
The time between a product’s introduction to the market and its removal from the shelves is referred to as the “productlifecycle.” ” Productlifecycle management is the process of planning ways to support and maintain a product continuously. Stage-2: Introduction.
What is the growth stage of the productlifecycle (and why is it important)? The growth stage is the period of the productlifecycle with the sharpest increase in sales thanks to a boost in-market presence. Your audience is aware of and has accepted your product. Image source.
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