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壮壮The document summarizes key concepts relating to product mix strategies and the product life cycle. It defines product mix and product line, and discusses major product mix strategies such as positioning, expansion, alteration, contraction, and trading up/down. It then explains the stages of the product life cycle - introduction, growth, maturity, decline - and the strategic implications of each stage. Finally, it discusses planned obsolescence and fashion adoption processes.
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1) A product goes through different stages in its life cycle from development to growth to maturity and decline. Marketing strategies must adapt to the changing needs in each stage.
2) Products can be classified by their life cycle length as basic, fashion, or fad. Basic products like jeans have long life cycles while fashions change more quickly.
3) Five types of consumers adopt fashion products at different stages from innovators to late adopters. Marketing must target each group appropriately.
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1) A product goes through different stages in its life cycle from development to growth to maturity and decline. Marketing strategies must adapt to the changing needs in each stage.
2) Products can be classified by their life cycle length as basic, fashion, or fad. Basic products like jeans have long life cycles while fashions change more quickly.
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We believe there are 4 essential criteria that underpin successful innovation processes; they are;
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The document discusses different lifecycles including the product lifecycle, innovation adoption lifecycle, and customer lifecycle.
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The customer lifecycle also has four stages: new customers, existing customers who can be ideal, unhappy, or in silent attrition, exiting customers looking for alternatives, and exited customers who have left.
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Product life cycle is basically similar to the human life cycle Birth, Growth, Maturity, Death. Product lifecycle also has same stages in it. Please read my Presentation.
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วงจรอุตสาหกรรมแฟชั่น fashion cycle
Different stages of fashion production include:
- Color and trend forecasting to set the direction of new collections.
- Research and design development including sample patterns and prototypes.
- Ordering fabrics and production including quality control.
- Production and supply chain management such as consolidating orders and issuing production.
- Pre-production samples, selling collections through samples, trade shows and agents.
- Distribution to wholesale and/or retail customers.
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Ansoff's matrix provides a framework for exploring different strategic growth options based on whether an organization introduces new or existing products into new or existing markets. The four strategies are market penetration, market development, product development, and diversification, with increasing risk levels. Market penetration focuses on increasing sales of current products to current customers. Product development introduces new products for existing markets. Market development takes existing products to new markets, while diversification involves new products and new markets and carries the highest risk.
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This document discusses the traditional product life cycle model which consists of 5 stages: introduction, growth, maturity, decline, and decision point. It provides examples and descriptions of each stage. The introduction stage involves low sales and high promotion costs to build awareness. The growth stage sees rapid sales increases as more customers learn about the product. In maturity, sales level off amidst increased competition. Decline occurs as new products replace the old. Finally, at the decision point a company must decide whether to reformulate, discontinue, or find new uses for the product.
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The document discusses the product life cycle theory and its four stages: introduction, growth, maturity, and decline. It provides characteristics of each stage such as high costs and low sales in introduction, increased sales and profits in growth, market saturation in maturity, and declining sales and costs in decline. The document uses the example of Lux soap's product life cycle in India from its introduction in 1929 to the present, where it is currently in the maturity stage. The goals of product life cycle management are to reduce costs and time to market while improving quality and identifying sales opportunities.
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The document discusses the product life cycle, which consists of four main stages: introduction, growth, maturity, and decline. It describes the characteristics and strategies used in each stage. In the introduction, awareness is built and the market developed through branding, pricing, distribution, and promotion. In growth, brand preference and market share increase. Maturity sees competition and a focus on defending market share. Decline has options like maintaining, harvesting, or discontinuing the product. Forecasting the life cycle helps management plan strategies for each stage and modify or replace products accordingly.
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The document discusses the product life cycle (PLC), which describes the stages a product goes through from introduction to decline. It identifies the key stages as introduction, growth, maturity, and decline. Each stage is characterized by different factors such as sales patterns, pricing, competition, and marketing activities. Understanding the PLC provides guidance to marketers on adapting appropriate strategies for each phase of a product's lifecycle.
Product life cycle
The product life cycle progresses through four stages: introduction, growth, maturity, and decline. In the introduction stage, firms focus on building awareness, branding, and distribution. In the growth stage, firms build preference and market share while maintaining quality. In the maturity stage, competition increases as firms defend market share through differentiation and pricing. In the decline stage, firms may rejuvenate, harvest, or discontinue the product.
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The product life cycle has four stages: introduction, growth, maturity, and decline. In the introduction stage, the product first enters the market and focus is on promoting awareness and getting customers to try it. In the growth stage, the product is accepted by consumers and distribution expands. The maturity stage is when sales begin to slow as repeat purchases decrease and attracting new buyers is challenging. Finally, in the decline stage, sales and profits drop off as demand wanes and the product is eventually removed from the market. Companies can manage the life cycle through product modification, market modification, or repositioning strategies.
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Product life cycle definition, developing new idea, introduction stage, growth stage, majority stage, decline stage
Marketing
The document discusses the product life cycle (PLC), which consists of four stages: introduction, growth, maturity, and decline. It provides examples of products currently in each stage. The introduction stage focuses on creating awareness through limited distribution and promotions. In the growth stage, sales increase as more companies enter the market. The maturity stage sees sales peak and profits decrease as competition intensifies. Finally, the decline stage is marked by falling sales and profits as the product becomes obsolete. The document also discusses different types of product life cycles, such as those for fashions, fads, and styles.
Product Line and Product Mix decisions
The document discusses product line definitions and decisions. It provides examples of Jyothi Lab's product lines which include fabric care, dishwash, personal care, and household insecticide ranges. Product line decisions involve stretching or filling a line. Factors influencing these decisions include company objectives, costs, and quality. Product line stretching can be downward, upward, or two-way. Filling involves adding more items. The document also defines product mix as all product lines and items offered for sale. It discusses the width, length, depth, and consistency of a company's product mix using Jyothi Lab as an example.
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The document discusses the stages of a product's life cycle: development, introduction, growth, maturity, saturation, and decline. It explains the key characteristics and marketing challenges of each stage. For example, in development costs are incurred creating prototypes, introduction involves promotional strategies to create awareness, and maturity is when sales plateau providing a stable income. The document also covers strategies to extend product life cycles like new target markets or components when facing saturation or decline.
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The document summarizes the product life cycle stages of introduction, growth, maturity, and decline. It describes how the marketing mix of product, price, promotion, and place changes throughout each stage. During introduction, the product has limited availability and higher prices. Growth involves more widespread distribution and promotional activities to increase sales. Maturity is the most profitable stage where distribution is broad and promotions remind customers. In decline, prices are reduced to clear remaining stock before withdrawing the product. Extending the life cycle involves selling mature domestic products to new international markets to continue sales without additional research costs.
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This document discusses product and service strategies. It defines key terms like product mix, product line, and individual product. It describes characteristics of a product mix like width and consistency. It also covers the product life cycle concept and stages (introduction, growth, maturity, decline). Marketing strategies are outlined for each stage. Limitations of the product life cycle model are presented. Product-line and product-mix strategies like increasing or decreasing line length are introduced. Branding strategies and ethical issues in product development are also addressed.
Product Life Cycle - Marketing Management
This document discusses the product life cycle and how products progress through different stages from introduction to decline. It explains that the product life cycle has four main stages: introduction, growth, maturity, and decline. During each stage, companies should focus on different marketing mix elements like product, price, placement, promotion, and sales strategies. The stages are used to understand how to best market and manage products over their lifetime in the market.
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The document discusses different lifecycles including the product lifecycle, innovation adoption lifecycle, and customer lifecycle.
The product lifecycle has four stages: introduction, growth, maturity, and decline. The innovation adoption lifecycle describes five categories of adopters: innovators, early adopters, early majority, late majority, and laggards.
The customer lifecycle also has four stages: new customers, existing customers who can be ideal, unhappy, or in silent attrition, exiting customers looking for alternatives, and exited customers who have left.
| Product life cycle |
Product life cycle is basically similar to the human life cycle Birth, Growth, Maturity, Death. Product lifecycle also has same stages in it. Please read my Presentation.
Ansoff matrix
The document discusses Ansoff's Matrix, which represents different options for sales growth through strategic marketing decisions. It outlines the two variables in the matrix - market and product. The four strategies described are market penetration, market development, product development, and diversification. Market penetration involves selling more of existing products in existing markets and carries the lowest risk, while diversification, expanding into new markets with new products, poses the highest risk. The matrix helps identify areas a business could expand into, and managers must assess the costs, gains and risks of each strategic option.
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- Research and design development including sample patterns and prototypes.
- Ordering fabrics and production including quality control.
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- Distribution to wholesale and/or retail customers.
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The document discusses product mix and product lines. It defines product mix as the full list of products offered for sale by a company, with two dimensions: breadth (different lines) and depth (assortment within a line). A product line is a broad group of similar products intended for similar uses. The document also covers strategies for product mix like expansion, contraction, and alteration of existing products.
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Fashion trends move through different groups in society in various ways. The trickle-down theory suggests trends originate with high socioeconomic groups and trickle down to lower groups. Alternatively, the trickle-up theory argues trends start with youth and lower income groups. The trickle-across theory proposes trends spread horizontally between similar social groups. Fashions also follow a cycle from introduction to rise, peak popularity, decline, and eventual obsolescence. Various factors can accelerate or slow down the pace of this fashion cycle.
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The document discusses the product lifecycle (PLC) which consists of four stages: introduction, growth, maturity, and decline. During the introduction stage, products are initially promoted to raise public awareness using either a penetration or skimming pricing strategy. In the growth stage, heavy advertising is used to increase sales and market share. The maturity stage sees sales growth stabilize. Finally, the decline stage occurs when sales begin to fall as customers are satisfied or replaced by newer products. However, the document notes that not all products follow the same cycle and stages may be skipped. Close monitoring is needed throughout a product's lifecycle.
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The document discusses the product life cycle and how it relates to different types of fashion products. It explains that products like t-shirts and jeans have long, basic life cycles, while fashion and fad products have much shorter cycles as styles change more quickly. Fashion products in particular move through different target markets - from innovators to early adopters to the masses and late adopters - as the fashion cycles through introduction, growth, maturity and decline. Marketing strategies should be adapted to reach the different consumer types at each stage of the product and fashion life cycles.
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Products pass through distinct life cycle stages of introduction, growth, maturity, and decline. Each stage poses different challenges and opportunities for companies. During introduction, sales are low while costs are high. Growth sees rapidly increasing sales as more consumers adopt. Maturity follows as sales plateau and competition intensifies. Finally, decline occurs as sales decrease due to factors like new technologies and shifting tastes. Companies must adapt their strategies to each stage in order to succeed over a product's lifetime.
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Product Line Decision and Product Decision
Briefly describe the whole key terms with daily examples.Hope so it will be very helpful
Production management
This document discusses production management and the product life cycle. It defines production management as planning, organizing, directing, and controlling production activities to convert raw materials into finished goods. It then outlines the six stages of the product life cycle: development, introduction, growth, maturity, saturation, and decline/withdrawal. In each stage, it provides details on characteristics like sales trends, costs, revenues, and strategic considerations.
Product Life Cycle
The document discusses the product life cycle, which has five stages: introduction, growth, maturity, decline, and product development. It provides details about each stage. In the introduction stage, sales are low and costs are high. The growth stage sees rapidly increasing sales and profits. The maturity stage is when sales growth slows due to competition. In decline, sales fall off and profits drop. The product life cycle concept can be applied to product classes, forms, brands, styles, fashions, and fads.
Ps of marketing.pptx
The document discusses key concepts in marketing products, including product categories, classifications, sizes, and life cycles. It defines different style structures in fashion like haute couture and ready-to-wear. It also outlines the four stages of a typical product life cycle: introduction, growth, maturity, and decline. For fast-moving industries like apparel, the life cycle usually involves three stages - market development and introduction, growth, and maturity/decline. Understanding a product's life cycle helps businesses make decisions around promotions, inventory levels, and launch timing.
Introduction to Product
The document discusses various aspects of new product development including defining a product, the product mix, product differentiation, the product life cycle, and the new product development process. It explains key terms like the core, actual, and augmented product. It also outlines the different stages in the new product development process from idea generation to commercialization and launch.
Managing the Product - Marketing Management
This document provides an overview of managing products, including concepts like product hierarchy, product line, product mix, and product life cycle. It defines a product as something offered to satisfy a want or need. Products can be classified based on need, product family, class, line, and type/item. A product line includes closely related products, while a product mix is all products offered. Product mix considers width, length, depth, and consistency. The document also discusses new product development processes, packaging and labeling as marketing tools, and strategies for different stages of the product life cycle.
Succeeding in Product Management
This document discusses product lifecycles and marketing strategies. It defines a product and outlines different types including tangible goods and intangible services. It then describes the typical stages a product goes through - development, introduction, growth, maturity, and decline. Finally, it suggests marketing strategies to apply at each stage, such as using promotional spending to create trial in the introduction stage and diversifying brands and models during maturity.
Product Life Cycle.pptx
This document outlines the product life cycle (PLC) model, including its key stages of introduction, growth, maturity, and decline. It provides details on how products, styles, fashions, and fads may progress differently through the PLC. Marketing strategies are discussed for each stage, with an emphasis on adapting strategies based on where a product is in its life cycle. Examples are given of products that have successfully navigated the PLC stages as well as those that have declined.
Marketing Management
This document discusses key concepts related to product management. It defines a product and outlines three levels of a product: core product, actual product, and augmented product. It then discusses a product's life cycle, including the introduction, growth, maturity, and decline phases. Finally, it covers product portfolio analysis and management, which involves assessing a company's product mix, improving market performance, and setting goals.
Mm.10.10
The document discusses developing product strategy. It covers:
1) Classifying products based on durability, tangibility, consumer goods, and industrial goods.
2) Developing a product mix with the right width, length, depth, and consistency of product lines.
3) Analyzing product lines to determine what products to build, maintain, harvest or divest.
ajaykumarta-Unit 4 product & price
This document discusses product development and management. It begins by defining a product and differentiating between goods and services. It then covers topics like product differentiation, product relationships, product concepts, and new product development processes. The new product development process involves generating ideas, screening ideas, concept development, business analysis, and developing a marketing strategy. Managing a company's product mix, product lines, and portfolio are important aspects of product management.
Product Life Cycle (Stages and Extension Strategies)
Business Studies - Product Life Cycle
The product life cycle stages are explained in depth along with advantages and disadvantages of the product life cycle, extension strategies and the uses. Each stage (development, introduction, growth, maturity and saturation, decline, rejuvenation and decline) are all explained in depth along with a chart and adv. and disadv.
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9fms pp10
- 1. Chapter 1 0 Product-Mix Strategies Sommers Barnes Ninth Canadian Edition Presentation by Karen A. Blotnicky Mount Saint Vincent University, Halifax, NS Copyright © 200 1 by McGraw-Hill Ryerson Limited
- 4. BREADTH (DIFFERENT LINES) Lawn mowers Gardening tools Lawn furniture Power rotary Power reel Hand-powered DEPTH (ASSORTMENT WITHIN A LINE) Rakes Hoes Shovels Chairs Chaise lounges Benches Each in various sizes and prices Each in various sizes and prices Various sizes and prices in redwood or aluminium with plastic webbing Product Mix - An Example
- 11. Dollars Time in years Loss 0 Profit Sales Volume INTRODUCTION GROWTH MATURITY DECLINE Product Life Cycle Curve
- 15. Part a - Extended introduction stage Part b - Fad Part c - Indefinite maturity stage Time in years Time in years Time in years Aggregate sales Aggregate sales Different Life Cycles
- 18. TRICKLE- UP Product adopted first by lower socio- economic group TRICKLE- DOWN Product offered first to upper socio- economic group Product introduced at same time in all three types of stores: TRICKLE-ACROSS Exclusive high-priced specialty stores (boutiques) TRICKLE-ACROSS Medium-priced department stores and specialty stores TRICKLE-ACROSS Discount stores Fashion Adoption Theories in Action