It also seeks to estimate customers' response to the product. With the help of proper research, it is possible to obtain a clear idea about the future proceedings of the company. "As the Fusion is developed, Gillette will have to invest in market analysis, research, production, marketing etc. This will be an expensive phase. Since no sale revenue will be achieved, losses may be incurred. Fortunately for Gillette, M3Power still has a market that will allow it to absorb losses over a short time." (Altaf 2007).
During this stage it becomes crucial to give an appropriate focus on price and promotion concept. The company can choose between float or skim pricing strategy. Apart from this, it is necessary to give emphasis for promotional method, especially advertising of the product, for the purpose of creating awareness about the new product in the market and among the consumers. There exist chances of competition. Some times the company may incur some loss during this stage. The cost will be higher due to the sales promotional activities and the quantum of sales will be normal or at a lower level. The important fact during this stage is to analyze whether the customers will be ready to accept the technology of five blade surface or not.
The growth stage is the third stage in the product lifecycle. ...Show more