BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The introduction phase is the first time customers are introduced to the new product. A company must generally includes a substantial investment in advertising and a marketing campaign focused on making consumers aware of the product and its benefits, especially if it is broadly unknown what the item will do.

Detailed explanation-2: -The introduction stage happens when a product is launched in the marketplace. This is when marketing teams begin building product awareness and targeting potential customers. Typically, when a product is introduced, sales are low and demand builds slowly.

Detailed explanation-3: -Maturity. The major symptom of the maturity phase is the inevitable saturation of major publishing channels. At this point, overall demand is at its peak, which means that ad space is at its most expensive.

Detailed explanation-4: -These four stages are called “Attention”, “Interest”, “Desire”, and “Action” and build on each other. The model was developed at the end of the 19th century by the American advertising expert Elmo Lewis. His formula has been extended several times since then, but its basic form is also still used in marketing.