Creating Sustainable Market Share Strategies and Product Life Cycle
Ladokun, Isaac Olujide
Department of Marketing
The Polytechnic, Ibadan.
ladokunolujide@yahoo.com
ABSTRACT:
The paper tries to establish alternative market share strategies using the product life cycle concept as this will help enhance the profitability of business. It was done because information abound where current and new businesses find it very difficult to stay afloat in the face of stiff competition both from local and global markets, and this trend has to be stemmed to restore businesses back to life to keep satisfying the yearnings of stakeholders. This study was undertaken through the use of textbooks written by world acclaimed authors in the discipline, articles written by renowned academics, practitioners in globally recognized professional and trade association journals, and management consultants. It was discovered that there is positive correlation between market share and profitability, a conclusion corroborated by studies carried out by globally recognized consulting groups. The significance of the findings from the study are, not only, that increased market share will positively increase profitability, but can afford the manager to use alternative strategies using the product life cycle to improve return on investments.
