| Concept |
Product life cycle stage - new |
Marketing efforts undertaken |
| Entrepreneurial marketing |
Creation of an idea for a new product; practical implementation of the idea and introduction of the new product to the market |
Marketing communications in terms of informing and attracting a wide range of consumers (innovators, early and late majority) |
| Standard marketing |
Business development and growth phase in terms of new product sales |
Market research, segmentation, concentration on target segments and positioning of the novelty; brand creation and investment in its promotion |
| Cross-business marketing |
Maturity and saturation stage |
Emphasis on growing focus on creative solutions that increase customer value |
