Factors Affecting the Selection of Marketing Strategy in Different Stages of Product Life Cycle

اقتصاد و توسعه کشاورزی

Article 1, Volume 36, Issue 4 - Serial Number 57, December 2023, Pages 337-352   

Document Type: Research Article-en

DOI: 10.22067/jead.2022.17748.0

Authors

H. Mohammadi^* ; A.R. Sani Heidary; A. Shahraki

Department of Agricultural Economics, Faculty of Agriculture, Ferdowsi University of Mashhad, Mashhad, Iran

Abstract

A suitable marketing strategy is essential for increasing sales and profitability at different stages of the product life cycle. The main objective of this study was to assess the factors that affect the choice of marketing strategy at various stages of the product life cycle in the food industry in Mashhad, Iran. Data were collected in 2017 through a survey which 88 marketing managers in the food production industry completed the questionnaires. To reach the goal of the study, the multinomial logit model was applied to determine the effects of explanatory variables on the probability of choosing a special marketing strategy at the various stages of the product life cycle. Results showed that the manager’s experience, education, type of product, competitiveness, reputable brand, and market share had a significant effect on the chosen strategy at different stages of the product life cycle. Therefore, a company’s profitability in a market could be improved by the implementation of a marketing strategy based on product type and in relation to the specific stage of the product life cycle.

Keywords

Comparative advantage; Food industries; Marketing strategies; Product life cycle

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