PROJECT BODY:

CHAPTER ONE

BACKGROUND OF THE STUDY

1.1      Introduction

As the economy is dynamic, so also situation change because present socio economic setting is different from what it used to be in the past.

Many industries today have to contend periodically with shortages while others face intensive competition. People’s value diminishes drastically and there is growing demand for better quality of life. These social and economic changes activated changes in the market performance which pose challenges on marketers. Marketers however, come out with the aim of war against the problem facing product performance and they find it necessary to adopt marketing strategic so as to improve market performance. So far, markets have the capability to alter or influence 4p’s i.e to adopt bet pricing strategic, to use the best distribution network, to produce best and uses a proffered promotional mix.

Therefore, many marketing strategies such as a re-packaging, re-pricing, product modification, product diversification, e.t.c may be used in order to maintain better market performance. Re-packaging as a marketing strategy can e adopted in order to e-juvenile a product, especially to a decline stage and maturity stage. The management of a product life cycle finds it necessary to use 4 strategy that will make them to determine the success and failure of a product before it is introduced.

Also, it is essential for the company to cycle before it is introduced.

Therefore, it becomes necessary for the management to anticipate the marketing requirement of use stage. To re-package a product, identifies and differentiates the product from competitor and also improve the image of a company’s product.

It becomes important for a product to be re-packaged when such product is found perform below expectation. The decision to find what marketing strategy is to be adopt become a critical issues.