Product Report Essay Example | Topics and Well Written Essays - 500 words

Product Report - Essay Example Keeping this theory in mind, it is quite obvious that the product category of ‘ketchup’ is in the maturity stage. This is apparent due to the following reasons: i. The market has become saturated with many variants of the basic product. For example, tomato chilly ketchup, sweet and sour ketchup. ii. Market share growth is at the expense of some other competitor rather than actual growth in the market (this is quite clear from the fact that competitors try to motivate consumers to try their product and appear superior to other brands of ketchup rather than just sell the idea of having ketchup with one’s fries or burgers). iii. The product is constantly being modified by players in the industry to differentiate their product from those of competitors (Ex: Heinz Dip & Squeeze Ketchup). iv. Emphasis of the promoters in the industry is to build brand loyalty and give customers incentives to switch over to their brand (As Heinz has done in this case study by offering fr ee fried chicken with the dip and squeeze and earlier by offering free fries and ketchup in their mobile vans). There are many strategies that marketers use to manage their product’s life cycle.