■Compatibility: It indicates whether the new product accords any product currently prevailing in the
market. The more the compatibility, the higher the rate of adoption will be.
■Communicability: If the new products can be promoted through communication mix, the rate of
adoption by the potential users will be higher.
6.9 PRODUCT LIFE CYCLE
Understanding the life cycle of a product is very important in the context of marketing decision making.
As the product passes through different stages of its life, strategies related to all the elements of market-
ing mix change. In this section we have made ...
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