Explain the relationship between advertising and the product life cycle

Advertising
Advertising refers to paid non-personal communication usually targeted at large number of potential buyers. Types: Product advertising- Consists of messages designed to sell a particular good or service. Institutional advertising- involves messages that promote concepts, ideas, philosophies, or goodwill for industries, companies, organizations or government entities. Cause advertising- Form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process.

Product Life-cycle
Product life cycle is four basic stagesintroduction, growth, maturity and decline through which a successful product progresses.

Relationship between Advertising and Product Life-cycle

Advertising and product life cycle both fall into one of three categories based on whether the ads are intended to INFORM, PERSUADE OR REMIND.

Relationship
Introduction stage- Informative advertising to build initial demand for product. (Attract the interest of potential buyers who seek information about advantages of new product over existing one) Growth and maturity stages- Persuasive advertising which attempts to improve the competitive status of a product, institution or concept. (Compares products directly with their competitors) Late maturity and decline stages- Reminder-oriented advertising which is to maintain awareness of the importance and usefulness of a product, concept or institution. (up to date advertising).