Model your marketing against the product lifecycle

[naomi_kramer]

@heshfekry I haven’t finished this yet, but I thought you might have strong opinions about this step’s explanation:

@naomik

Choose an introduction method: rapid skimming, slow skimming, rapid penetration, or slow penetration.

• Rapid skimming: launching your product at a high price with high promotional costs.
• Slow skimming: launching your product at a high price with low promotional costs.
• Rapid penetration: introducing a product at a lower price with high promotional costs.
• Slow penetration: introducing the product at a low price in the hope that it will encourage acceptance.

The introduction method you use comes down to these basic factors:

• How aware your target market is of your product.
• How large the market is for your product.
• Whether customers are happy to pay a high price.
• How much competition your product faces.

	Target market awareness	Market	High price acceptance	Competition
Rapid skimming	No	Limited	Yes	Yes
Slow skimming	Yes	Limited	Yes	No
Rapid penetration	No	Vast	No	Strong
Slow penetration	High	Vast	No	Low

I was really struggling to pull the information into a single step without using something like a table to collate the information. I think the other option is to turn it into multiple steps working through the points?

Thoughts?