The Product Life Cycle

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A presentation based on Marketing's idea that there is a product life cycle for every product that is made.

Part of Standard Grade and Higher Business Management

Published in: Education, Business, Technology
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The Product Life Cycle

  1. 1. Product Life Cycle <ul><li>This is the stages a product goes through during its life. Products do not always last for ever eg platform shoes are not fashionable now and are not sold </li></ul>www.mrmcgowan.blogspot.com
  2. 7. Stages of the Product Life Cycle <ul><li>Introduction – when the product first comes onto the market </li></ul><ul><li>Growth – when the sales are going up </li></ul><ul><li>Maturity – when you have reached all the people who will buy your product </li></ul><ul><li>Decline – when your product starts to lose customers – falls out of fashion </li></ul>
  3. 8. The Product Life Cycle Time
  4. 9. Increasing the product life <ul><li>Change the product slightly – Coca Cola brought out diet coke, caffeine free etc </li></ul><ul><li>Change where you sell your product e.g. set up a website and sell on the internet </li></ul><ul><li>Advertising campaigns – reminds people about your product </li></ul><ul><li>Change your price – maybe have a special offer on one of your products </li></ul>

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