The document discusses the international product life cycle theory and its application to Aston Martin. It begins with an introduction to the international product life cycle model, which describes how industries and companies evolve their marketing strategies as a product moves through stages of introduction, growth, maturity, and decline in domestic and foreign markets. It then provides an overview of Aston Martin, including the company's history and evolution. The document analyzes the international product life cycle stages through which Aston Martin has progressed.
Foot Locker operates over 3,300 stores globally and has major competitors like Finish Line and Sports Authority. It targets consumers aged 12-30 with a variety of athletic shoe and apparel brands like Nike, Adidas, and Under Armour. While Foot Locker benefits from economies of scale, it is heavily dependent on malls for sales and faces high competition from substitutes sold at lower prices. The document analyzes Foot Locker's strengths like its brand recognition and relationships with suppliers. It also examines weaknesses such as poor research and overreliance on Nike. Financial ratios show Foot Locker has maintained healthy liquidity and profitability compared to industry averages. The document recommends Foot Locker improve its research and development to
Costco is a membership-only retail warehouse club founded in 1983. It is headquartered in Issaquah, Washington and operates over 600 warehouses worldwide. Costco has over 66 million members and $88.9 billion in annual revenues. It focuses on keeping prices low by maintaining high sales volumes, limiting selections, and streamlining operations. Costco's success is attributed to its low prices, quality Kirkland Signature brand, and commitment to customer and employee satisfaction.
This document discusses foreign direct investment (FDI) in retail in India. It provides background on the history of FDI restrictions in India and the government's gradual opening of the retail sector to FDI over time. It also outlines some of the debates around allowing FDI in multi-brand retail, including potential benefits like more options and lower prices for consumers, concerns about impact on small retailers, and issues around sourcing requirements. The document aims to explore both sides of the debate over whether India should further open its retail sector to FDI in multi-brand stores.
Costco's mission is to provide members with quality goods and services at the lowest possible prices. It operates membership warehouses around the world with annual sales per store of $146 million. Costco maintains low prices through volume purchasing and efficient operations. Its business strategy focuses on a limited product selection sold at low margins, with additional revenue from membership fees. Costco aims to be the best cost provider and differentiate itself through its Kirkland Signature house brand and treasure hunt items.
This document provides a market plan for the Tesla Model S. It begins with an executive summary that outlines Tesla's innovation in electric vehicles and the purpose of analyzing the Model S's market performance. The next sections analyze the Model S's target market and demographics, current market needs and trends, and forecast market and target growth. It also includes a SWOT analysis and discusses the Model S's main competitors. Financial forecasts and budgets are presented to estimate expenses, revenue, earnings, and determine marketing efforts needed to meet Tesla's goals.
Foot Locker operates over 3,300 stores globally and has major competitors like Finish Line and Sports Authority. It targets consumers aged 12-30 with a variety of athletic shoe and apparel brands like Nike, Adidas, and Under Armour. While Foot Locker benefits from economies of scale, it is heavily dependent on malls for sales and faces high competition from substitutes sold at lower prices. The document analyzes Foot Locker's strengths like its brand recognition and relationships with suppliers. It also examines weaknesses such as poor research and overreliance on Nike. Financial ratios show Foot Locker has maintained healthy liquidity and profitability compared to industry averages. The document recommends Foot Locker improve its research and development to
Costco is a membership-only retail warehouse club founded in 1983. It is headquartered in Issaquah, Washington and operates over 600 warehouses worldwide. Costco has over 66 million members and $88.9 billion in annual revenues. It focuses on keeping prices low by maintaining high sales volumes, limiting selections, and streamlining operations. Costco's success is attributed to its low prices, quality Kirkland Signature brand, and commitment to customer and employee satisfaction.
This document discusses foreign direct investment (FDI) in retail in India. It provides background on the history of FDI restrictions in India and the government's gradual opening of the retail sector to FDI over time. It also outlines some of the debates around allowing FDI in multi-brand retail, including potential benefits like more options and lower prices for consumers, concerns about impact on small retailers, and issues around sourcing requirements. The document aims to explore both sides of the debate over whether India should further open its retail sector to FDI in multi-brand stores.
Costco's mission is to provide members with quality goods and services at the lowest possible prices. It operates membership warehouses around the world with annual sales per store of $146 million. Costco maintains low prices through volume purchasing and efficient operations. Its business strategy focuses on a limited product selection sold at low margins, with additional revenue from membership fees. Costco aims to be the best cost provider and differentiate itself through its Kirkland Signature house brand and treasure hunt items.
This document provides a market plan for the Tesla Model S. It begins with an executive summary that outlines Tesla's innovation in electric vehicles and the purpose of analyzing the Model S's market performance. The next sections analyze the Model S's target market and demographics, current market needs and trends, and forecast market and target growth. It also includes a SWOT analysis and discusses the Model S's main competitors. Financial forecasts and budgets are presented to estimate expenses, revenue, earnings, and determine marketing efforts needed to meet Tesla's goals.
The marketing plan outlines launching Aston Martin's new DBX electric car in Canada, which is aimed at high-powered professional women. Various marketing techniques will be used, including sponsorships, PR, product placement, and celebrity endorsements, to promote the DBX to this new target segment of female customers.
An extensive product portfolio analysis on market requirements for developing, launching and positioning new products with a comparative case study for Porsche and Ferrari in branding strategies according to market opportunities and threats of luxury automotive industry in Europe.
This presentation briefly will elaborate how IKEA has adopting Porter's Five Forces and Value Chain Analysis in order to maintain its competitive edges over its rivals in furniture market all over the globe by providing good quality furniture at a lower price tag. Hence by bringing in innovative design, improved functionality, low cost operating expenditures and offering excellent quality at lower prices, IKEA's has proved to be a success.
Costco is a membership-only warehouse club founded in 1983 with 749 warehouses globally. It focuses on product diversification and its Kirkland Signature private label brand. Costco utilizes a unique supply chain model of trucking products directly to stores to reduce costs. It targets middle to high income customers aged 35-65. While Costco has strong brand loyalty and low prices, it faces threats from competitors and online retailers. The document recommends Costco improve its e-commerce capabilities, expand its product categories globally, and maintain its pricing strategy while promoting through sales and direct marketing.
Costco is a large retailer with over $71 billion in annual sales and 550 stores worldwide. It has a unique business model of low prices, high quality merchandise, and membership fees. Strategic objectives include treating employees and customers well, continuous growth, and staying focused on the core business model. While facing challenges like market saturation and competition, opportunities exist in expanding internationally and growing online sales. Maintaining its ethical culture and low-cost leadership strategy will help Costco continue its success.
The document summarizes an analytics platform that maps competitors' products across websites and languages. It monitors pricing and visibility trends for products like the Adidas Gazelle shoe sold on retailers like Macy's, Next, Zalando, Myntra, and Zalora. The platform discovers exact and similar products, tracks pricing strategies over time, and identifies opportunities for customized pricing and store-level analytics to maximize sales.
Team E achieved a cumulative ROI of 6.4%, generated $1.276 billion in revenues through sales of 3029 units, and increased their market share to 19.3%, resulting in a $728 thousand contribution after marketing and a stock price index of 3623. Their strong financial performance was driven by growing market share and revenues while maintaining high returns on investment.
A Strategic Game: Tesco and Asda (U.K.)David Stone
The document discusses a price war occurring between Tesco and Asda, the two largest grocery chains in the UK market. It analyzes the strategic interaction between the two companies using a game theory model called the Hawk-Dove game. Both Tesco and Asda have been pursuing an aggressive pricing strategy ("playing hawk") in order to gain market share from competitors. As a result of the ongoing price war, many smaller independent retailers have had to close down, and the grocery industry is consolidating with the largest players being Tesco and Asda.
This document provides an overview of Edita Food Industries S.A.E., including its products, subsidiaries, locations, employees, stakeholders, competitors, and market share. Edita is one of the leading FMCG companies in Egypt and the Middle East, known for high quality products. It has over 5,400 employees across four production facilities. Key subsidiaries include Edita Confectionary, Chipita, Digma Trading, and ACTIS. Major competitors include Al Faysal Group, Faragallah Group, and Monginis Foods. Edita has the largest market share in Egypt's snacks market at 6%. The document also outlines Edita's mission, vision, values, and a competency framework
Strategic Management in a Global Context: Under ArmourRonantonnoel
Under Armour operates in the competitive performance apparel industry. It focuses on design, marketing, and product innovation while outsourcing manufacturing. Strengths include its powerful brand and superior product performance. Weaknesses include reliance on key leaders and limited protection of fabrics and designs. Continued innovation will be needed to maintain advantages. However, growth may require entering new markets like overseas and women which it currently lacks capabilities for. Acquisition may allow expanding into these markets while maintaining the brand.
ASOS is a global online fashion retailer offering over 50,000 branded and own label products. It has established a competitive advantage through its innovative combination of online retail, fast fashion, and global delivery capabilities. ASOS knows its target customers of "twenty-somethings" and works to continuously improve the consumer experience. While ASOS excels at creating an easy and engaging shopping experience through features like integrated catwalks and social media integration, it could further maximize long-term strategic advantages by taking cues from Zappos' exemplary customer service culture and implementing changes like prominent phone/chat support.
Costco operates membership warehouse clubs in 24 US states, the UK, Mexico, Canada, and Asia. It has over 16 million member households that contribute $400 million in annual fees. Costco aims for high volume and large scale operations with limited product assortments of around 4000 SKUs. This allows for efficient shelf space, fast inventory turns, and low costs. Costco looks for opportunities to expand domestically through new warehouses and membership models. It also looks overseas at locations like the UK, Mexico, and Asia for international growth. Managing the balance between membership services, marketing, pricing, and the core warehouse business model presents dilemmas around maintaining the customer value proposition.
Crossrail is a major new railway project that will improve transport connections in London. It involves building new tunnels under central London and new stations. Crossrail aims to relieve congestion, accommodate future population growth, and support economic growth in London. A cost-benefit analysis was conducted to assess the project. It estimated benefits like travel time savings and economic growth outweigh the costs of construction and maintenance, giving a benefit-cost ratio above 1. However, some benefits and costs are hard to quantify.
What Mercedes could do to target the middle class customer....Fahad Ali
Mercedes is renowned for quality but is out of reach for most customers. To address the mass market without compromising its elite image, Mercedes could collaborate with Toyota to produce affordable, high-quality vehicles under a new brand name like "Toyota MRS" or "Toyota & Mercedes". This would allow Mercedes to attract more medium-income customers while keeping its existing luxury customers satisfied with their high-end models. The new brand could leverage Toyota's experience in affordable manufacturing and Mercedes' reputation for quality and comfort to appeal to price-conscious customers seeking better quality.
The document provides an analysis of Abercrombie & Fitch (A&F), including:
1) An overview of the apparel sector and A&F's competitors such as Inditex, H&M, and Gap.
2) A history of A&F and details on its brands focused on young consumers.
3) Financial information showing A&F's reliance on the US market for 81% of its sales.
The document provides an overview and analysis of Lidl and Aldi's international strategies. It summarizes their operations in key European markets like Germany, France, and the UK. It then performs SWOT analyses of both companies. Finally, it suggests three new potential markets - the USA, China, and Italy - and conducts PEST analyses and recommendations for market entry strategies in each.
Abercrombie & Fitch Market Entry in India - Proposed PlanNeerja Bhawasinka
Abercrombie & Fitch is considering launching in India to penetrate the growing fashion market and increase sales. The plan is to open 3 stores in Mumbai, Delhi, and Bangalore to target customers aged 15-35 earning over $100. The goal is to achieve brand awareness and profitability. Competitors like Zara, Benetton, and Levi's have established operations in India. The key will be differentiating A&F through its exclusive brand image while also considering Indians' price sensitivity.
This is the English version of my original post in French. .ppt this time with links to the videos !
We can hear a lot currently about "New Retail" in China. It's the current favorite topic of Jack Ma !
During the recent "Single Day", ALIBABA smashed again all the records by achieving a GMV of 25 billion dollars ... According to the leaders of the group, this figure could be reached by bringing innovations and fluidity between offline and online purchases: This is what they call the "New Retail"
You will find in this presentation some concrete examples of retailers that exploit the convergence between offline and online and that propose new modes / types of distribution.
The document discusses the life cycle inventory (LCI) stage of life cycle assessment (LCA). LCI involves directly collecting input-output data from the system under study, including materials and resources consumed, energy utilized, and energy and by-products released. It provides sample data from a study on disposable cups that analyzed energy consumption and sources at different stages of the cups' lifecycles.
The marketing plan outlines launching Aston Martin's new DBX electric car in Canada, which is aimed at high-powered professional women. Various marketing techniques will be used, including sponsorships, PR, product placement, and celebrity endorsements, to promote the DBX to this new target segment of female customers.
An extensive product portfolio analysis on market requirements for developing, launching and positioning new products with a comparative case study for Porsche and Ferrari in branding strategies according to market opportunities and threats of luxury automotive industry in Europe.
This presentation briefly will elaborate how IKEA has adopting Porter's Five Forces and Value Chain Analysis in order to maintain its competitive edges over its rivals in furniture market all over the globe by providing good quality furniture at a lower price tag. Hence by bringing in innovative design, improved functionality, low cost operating expenditures and offering excellent quality at lower prices, IKEA's has proved to be a success.
Costco is a membership-only warehouse club founded in 1983 with 749 warehouses globally. It focuses on product diversification and its Kirkland Signature private label brand. Costco utilizes a unique supply chain model of trucking products directly to stores to reduce costs. It targets middle to high income customers aged 35-65. While Costco has strong brand loyalty and low prices, it faces threats from competitors and online retailers. The document recommends Costco improve its e-commerce capabilities, expand its product categories globally, and maintain its pricing strategy while promoting through sales and direct marketing.
Costco is a large retailer with over $71 billion in annual sales and 550 stores worldwide. It has a unique business model of low prices, high quality merchandise, and membership fees. Strategic objectives include treating employees and customers well, continuous growth, and staying focused on the core business model. While facing challenges like market saturation and competition, opportunities exist in expanding internationally and growing online sales. Maintaining its ethical culture and low-cost leadership strategy will help Costco continue its success.
The document summarizes an analytics platform that maps competitors' products across websites and languages. It monitors pricing and visibility trends for products like the Adidas Gazelle shoe sold on retailers like Macy's, Next, Zalando, Myntra, and Zalora. The platform discovers exact and similar products, tracks pricing strategies over time, and identifies opportunities for customized pricing and store-level analytics to maximize sales.
Team E achieved a cumulative ROI of 6.4%, generated $1.276 billion in revenues through sales of 3029 units, and increased their market share to 19.3%, resulting in a $728 thousand contribution after marketing and a stock price index of 3623. Their strong financial performance was driven by growing market share and revenues while maintaining high returns on investment.
A Strategic Game: Tesco and Asda (U.K.)David Stone
The document discusses a price war occurring between Tesco and Asda, the two largest grocery chains in the UK market. It analyzes the strategic interaction between the two companies using a game theory model called the Hawk-Dove game. Both Tesco and Asda have been pursuing an aggressive pricing strategy ("playing hawk") in order to gain market share from competitors. As a result of the ongoing price war, many smaller independent retailers have had to close down, and the grocery industry is consolidating with the largest players being Tesco and Asda.
This document provides an overview of Edita Food Industries S.A.E., including its products, subsidiaries, locations, employees, stakeholders, competitors, and market share. Edita is one of the leading FMCG companies in Egypt and the Middle East, known for high quality products. It has over 5,400 employees across four production facilities. Key subsidiaries include Edita Confectionary, Chipita, Digma Trading, and ACTIS. Major competitors include Al Faysal Group, Faragallah Group, and Monginis Foods. Edita has the largest market share in Egypt's snacks market at 6%. The document also outlines Edita's mission, vision, values, and a competency framework
Strategic Management in a Global Context: Under ArmourRonantonnoel
Under Armour operates in the competitive performance apparel industry. It focuses on design, marketing, and product innovation while outsourcing manufacturing. Strengths include its powerful brand and superior product performance. Weaknesses include reliance on key leaders and limited protection of fabrics and designs. Continued innovation will be needed to maintain advantages. However, growth may require entering new markets like overseas and women which it currently lacks capabilities for. Acquisition may allow expanding into these markets while maintaining the brand.
ASOS is a global online fashion retailer offering over 50,000 branded and own label products. It has established a competitive advantage through its innovative combination of online retail, fast fashion, and global delivery capabilities. ASOS knows its target customers of "twenty-somethings" and works to continuously improve the consumer experience. While ASOS excels at creating an easy and engaging shopping experience through features like integrated catwalks and social media integration, it could further maximize long-term strategic advantages by taking cues from Zappos' exemplary customer service culture and implementing changes like prominent phone/chat support.
Costco operates membership warehouse clubs in 24 US states, the UK, Mexico, Canada, and Asia. It has over 16 million member households that contribute $400 million in annual fees. Costco aims for high volume and large scale operations with limited product assortments of around 4000 SKUs. This allows for efficient shelf space, fast inventory turns, and low costs. Costco looks for opportunities to expand domestically through new warehouses and membership models. It also looks overseas at locations like the UK, Mexico, and Asia for international growth. Managing the balance between membership services, marketing, pricing, and the core warehouse business model presents dilemmas around maintaining the customer value proposition.
Crossrail is a major new railway project that will improve transport connections in London. It involves building new tunnels under central London and new stations. Crossrail aims to relieve congestion, accommodate future population growth, and support economic growth in London. A cost-benefit analysis was conducted to assess the project. It estimated benefits like travel time savings and economic growth outweigh the costs of construction and maintenance, giving a benefit-cost ratio above 1. However, some benefits and costs are hard to quantify.
What Mercedes could do to target the middle class customer....Fahad Ali
Mercedes is renowned for quality but is out of reach for most customers. To address the mass market without compromising its elite image, Mercedes could collaborate with Toyota to produce affordable, high-quality vehicles under a new brand name like "Toyota MRS" or "Toyota & Mercedes". This would allow Mercedes to attract more medium-income customers while keeping its existing luxury customers satisfied with their high-end models. The new brand could leverage Toyota's experience in affordable manufacturing and Mercedes' reputation for quality and comfort to appeal to price-conscious customers seeking better quality.
The document provides an analysis of Abercrombie & Fitch (A&F), including:
1) An overview of the apparel sector and A&F's competitors such as Inditex, H&M, and Gap.
2) A history of A&F and details on its brands focused on young consumers.
3) Financial information showing A&F's reliance on the US market for 81% of its sales.
The document provides an overview and analysis of Lidl and Aldi's international strategies. It summarizes their operations in key European markets like Germany, France, and the UK. It then performs SWOT analyses of both companies. Finally, it suggests three new potential markets - the USA, China, and Italy - and conducts PEST analyses and recommendations for market entry strategies in each.
Abercrombie & Fitch Market Entry in India - Proposed PlanNeerja Bhawasinka
Abercrombie & Fitch is considering launching in India to penetrate the growing fashion market and increase sales. The plan is to open 3 stores in Mumbai, Delhi, and Bangalore to target customers aged 15-35 earning over $100. The goal is to achieve brand awareness and profitability. Competitors like Zara, Benetton, and Levi's have established operations in India. The key will be differentiating A&F through its exclusive brand image while also considering Indians' price sensitivity.
This is the English version of my original post in French. .ppt this time with links to the videos !
We can hear a lot currently about "New Retail" in China. It's the current favorite topic of Jack Ma !
During the recent "Single Day", ALIBABA smashed again all the records by achieving a GMV of 25 billion dollars ... According to the leaders of the group, this figure could be reached by bringing innovations and fluidity between offline and online purchases: This is what they call the "New Retail"
You will find in this presentation some concrete examples of retailers that exploit the convergence between offline and online and that propose new modes / types of distribution.
The document discusses the life cycle inventory (LCI) stage of life cycle assessment (LCA). LCI involves directly collecting input-output data from the system under study, including materials and resources consumed, energy utilized, and energy and by-products released. It provides sample data from a study on disposable cups that analyzed energy consumption and sources at different stages of the cups' lifecycles.
Nystrom (1990) described high tech markets as marketing dependent and technologically driven. Unfortunately, there is evidence that this linkage is not often recognized by organizations (Gupta, Ray and Wilemon 1985). High tech markets are characterized as complex. In addition, they exist under rapidly changing technological conditions which lead to shorter life cycles (Davidow 1986) and the need for rapid decisions (Bridges, Coughlan, and Kalish 1991). The importance of speed in high tech markets is driven by increasing competition and the continually evolving expectations of customers (Doyle and Saunders 1985). All of this is compounded by higher levels of risk for both the customer and the producer.
There are three levels of product life cycles: 1) product category, 2) specific product forms within a category, and 3) individual brands. Product category and product form life cycles follow an S-shape pattern, while individual brand life cycles are more erratic due to ongoing marketing decisions. The document discusses strategies for different stages of the product life cycle and how products can be modified or markets changed to enhance sales during the growth and maturity stages.
This document is a report submitted by Wichares Bunjitpimol to Imperial College Business School examining the concept of "glocalization" and its advantages and disadvantages for consumers. The report uses case studies of companies like Starbucks, McDonald's, Coca-Cola, and Nike to demonstrate how adopting localized strategies can benefit consumers through more appropriate products, but can also disadvantage consumers by failing to appeal to local tastes or potentially offering inappropriate products. The recommendation is for companies to carefully consider how their brands will interact with local markets when using glocalization strategies.
1) The document discusses product portfolio management and its importance in the sales and operations planning (S&OP) process. It notes that while product innovation is common, effective product portfolio management is often underutilized in S&OP.
2) Product portfolios are in a constant state of flux, with new products, renovations, and discontinuations occurring regularly. This level of change puts pressure on supply chain operations.
3) The document argues that product portfolio management should be a key step in the S&OP process, bringing together discussions around innovation, commercialization, and product life cycles. However, it is often missing from real-world S&OP implementations.
This document discusses the BCG matrix, which is a tool used to evaluate a company's portfolio of business units. It involves classifying products or services into four categories based on their market share and market growth rate: stars, cash cows, question marks, and dogs. Stars have high market share in high-growth markets, while cash cows have high market share in low-growth markets. Question marks have low market share but are in high-growth markets, and dogs have low market share in low-growth markets. The matrix helps companies allocate resources and assess which products they should invest in versus divest. It provides an overview to compare business units but has limitations in oversimplifying businesses and markets. An example is given of
The document discusses how Du Pont extended the product life cycle of nylon through systematic strategies. It summarizes the four main strategies Du Pont used: 1) Promoting more frequent usage among current users by introducing colored and patterned nylon hosiery. 2) Developing more varied usage among current users through fashion-focused marketing. 3) Creating new users by targeting younger demographics. 4) Finding new material uses like tires, carpets, and others to drive continued sales growth beyond the original markets. Through continuous innovation and applying these strategies, Du Pont extended nylon consumption from 50 million pounds annually to over 500 million pounds, postponing saturation and maximizing profits over the product lifecycle.
Product life cycle and marketing management strategiesAnanthK20
The document discusses the product life cycle and marketing strategies used at each stage. It explains that all products go through stages of development, introduction, growth, maturity, and decline. To be successful during each phase, companies must understand customer needs, markets, and competitors, and how to apply the appropriate marketing mix of product, price, place, and promotion strategies. As a product moves from introduction to decline, companies shift strategies from heavy promotion and building demand, to increasing competition and price reductions. The goal is to recognize a product's stage and set performance targets to improve success throughout its lifetime.
Cascades, Diffusion, and Turning Points in the Product Life CycleDr. Larry Pino
This study examines the product life cycle (PLC) and aims to address gaps in the literature by defining metrics for key turning points, integrating informational cascade theory, developing a model to predict slowdown, and evaluating hypotheses about the PLC. The study analyzes data on consumer durables to test eleven hypotheses related to how economic, product, and market factors influence different stages of the PLC. The findings provide support for hypotheses that recessions shorten growth stage duration, products with larger takeoff growth see larger slowdown declines, and that leisure and time-saving products affect PLC stages differently.
Competitive Analysis - Literature Review of Analytical FrameworksLanguage Explore
The PLC is not the businessman's panacea but it can be useful if used in combination with other models and frameworks and alongside good management judgement.
The BCG assumed that market share is a good indicator of cash requirement though in reality, profits and cash flow depended on a lot other things than just market share and growth.
Porter who was convinced that the BCG Matrix by itself was not very useful in determining strategy for a particular business and was too simplistic, proposed some analytical tools and techniques in his three core concepts of the Basic Competitive Forces, the Generic Competitive Strategies and the Value Chain.
Relevancy of Levitt's views on Globalization in 21st centuryAnanya Jain
This essay aims at evaluating Theodore Levitt’s concept of homogenized needs and converging economy as a result of globalization. During the course of the essay, the main points of Levitt’s article are highlighted followed by major critiques and suggestions for global organisations in the end. Throughout the essay, the impact of information and communication technology is highlighted.
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.
The document summarizes the international product life cycle theory, which describes how industries and companies evolve their marketing strategies over time and across borders. It outlines the four primary elements of the theory - demand, manufacturing, competition/marketing strategies, and the innovating company's strategy - and how they change through a product's introduction, growth, maturity, and decline stages in different markets. The introduction stage involves building awareness and a niche market with high costs, risk, and promotion expenses. Growth sees rising sales and profits as production scales up, allowing more promotion. Maturity is the most competitive as companies focus on market share while considering innovations. Eventually decline begins as the market becomes saturated or consumers switch to newer products.
The document provides an overview of product life cycle (PLC) analysis, which describes how sales of a product evolve over time through four distinct stages: introduction, growth, maturity, and decline. It explains the characteristics and appropriate marketing strategies for each stage. For example, during introduction sales are low but advertising is high, while growth focuses on increasing sales and consumer loyalty. The document also cautions that PLC analysis has limitations and provides a case study analyzing the retail coffee industry through the PLC framework.
DRIVING PRODUCT SALES PERFORMANCE BY ANALYSING PRODUCT PRELAUNCH IN A LINGUIS...kevig
This document summarizes a research paper that analyzes product prelaunch events using natural language processing to investigate how they can drive product sales. Specifically, it looks at how conveying different customer values and inducing an optimism bias called "Nextopia" during prelaunch events impacts sales. The paper reviews literature on customer values frameworks and the effectiveness of prerelease advertising. It proposes using linguistics analysis of Apple's prelaunch event scripts to determine which expressed customer values (functional, experiential, cost/sacrifices) and affective messages most influence sales. The research aims to provide guidelines for crafting prelaunch speeches to maximize new product sales.
Using Market Research For Product DevelopmentResearchShare
Market research can be used at various stages of product development to minimize risks and maximize success. In the pre-birth stage, market research is useful for establishing customer needs and identifying opportunities to develop new concepts, product additions, or modifications. It helps reduce risks by exploring whether a product meets real needs before significant resources are invested. However, market research has limitations and cannot guarantee success - it is still difficult to research highly innovative concepts. Overall, when used properly, market research provides valuable insights to inform product development decisions at every stage.
This document discusses the debate around standardization versus adaptation as international marketing strategies. It summarizes that standardization aims to achieve economies of scale by using a uniform marketing approach across markets, and is appropriate when target markets have similar needs and preferences. Adaptation tailors the marketing approach to differences in local needs, wants, and socioeconomic conditions between markets. The key is finding a balance between the two approaches to succeed internationally. The document then reviews literature on both strategies and their advantages and disadvantages to evaluate which may be better for serving global markets.
This document discusses the debate between standardization and adaptation as international marketing strategies. It summarizes that standardization aims to achieve economies of scale by using a uniform marketing approach across markets, and is appropriate when target markets have similar needs and wants. Adaptation tailors the marketing approach to differences in individual markets, such as varying consumer needs, socioeconomic conditions, and is preferable when these differences are significant. The key to success is finding a balance between the two approaches through a mixed strategy that standardizes where possible but adapts when necessary to address market variations.
Lean Production And Its Effect On Workplace Health And SafetyPeggy Johnson
The document discusses the origins and evolution of lean production/manufacturing. It begins by describing how Toyota developed lean production principles in the 1950s in response to limitations of mass production. Key figures mentioned include Eiji Toyoda, Taiichi Ohno, and Henry Ford in relation to mass production. The document then discusses how lean production aims to maximize value and minimize waste. It lists some common lean tools like just-in-time, continuous improvement (Kaizen), error proofing, and takt time. Finally, it outlines some of the benefits of implementing lean such as reduced costs, improved productivity, quality and customer satisfaction.
This session will aim to comprehensively review the current state of artificial intelligence techniques for emotional recognition and their potential applications in optimizing digital advertising strategies. Key studies developing AI models for multimodal emotion recognition from videos, images, and neurophysiological signals were analyzed to build content for this session. The session delves deeper into the current challenges, opportunities to help realize the full benefits of emotion AI for personalized digital marketing.
As 2023 proved, the next few years may be shaped by market volatility and artificial intelligence services such as OpenAI's ChatGPT and Perplexity.ai. Your brand will increasingly compete for attention with Google, Apple, OpenAI, and Amazon, and customers will expect a hyper-relevant and individualized experience from every business at any moment. New state-legislated data privacy laws and several FTC rules may challenge marketers to deliver contextually relevant customer experiences, much less reach unknown prospective buyers. Are you ready?Let's discuss the critical need for data governance and applied AI for your business rather than relying on public AI models. As AI permeates society and all industries, learn how to be future-ready, compliant, and confidentlyscaling growth.
Key Takeaways:
Primary Learning Objective
1: Grasp when artificial general intelligence (""AGI"") will arrive, and how your brand can navigate the consequences. Primary Learning Objective
2: Gain an accurate analysis of the continuously developing customer journey and business intelligence. Primary Learning Objective
3: Grow revenue at lower costs with more efficient marketing and business operations.
Capstone Project: Luxury Handloom Saree Brand
As part of my college project, I applied my learning in brand strategy to create a comprehensive project for a luxury handloom saree brand. Key aspects of this project included:
- *Competitor Analysis:* Conducted in-depth competitor analysis to identify market position and differentiation opportunities.
- *Target Audience:* Defined and segmented the target audience to tailor brand messages effectively.
- *Brand Strategy:* Developed a detailed brand strategy to enhance market presence and appeal.
- *Brand Perception:* Analyzed and shaped the brand perception to align with luxury and heritage values.
- *Brand Ladder:* Created a brand ladder to outline the brand's core values, benefits, and attributes.
- *Brand Architecture:* Established a cohesive brand architecture to ensure consistency across all brand touchpoints.
This project helped me gain practical experience in brand strategy, from research and analysis to strategic planning and implementation.
Gokila digital marketing| consultant| Coimbatoredmgokila
Myself Gokila digital marketing consultant located in Coimbatore other various types of digital marketing services such as SEM
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Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Gokila digital marketer
Coimbatore
In this dynamic session titled "Future-Proof Like Beyoncé: Syncing Email and Social Media for Iconic Brand Longevity," Carlos Gil, U.S. Brand Evangelist for GetResponse, unveils how to safeguard and elevate your digital marketing strategy. Explore how integrating email marketing with social media can not only increase your brand's reach but also secure its future in the ever-changing digital landscape. Carlos will share invaluable insights on developing a robust email list, leveraging data integration for targeted campaigns, and implementing AI tools to enhance cross-platform engagement. Attendees will learn how to maintain a consistent brand voice across all channels and adapt to platform changes proactively. This session is essential for marketers aiming to diversify their online presence and minimize dependence on any single platform. Join Carlos to discover how to turn social media followers into loyal email subscribers and ultimately, drive sustainable growth and revenue for your brand. By harnessing the best practices and innovative strategies discussed, you will be equipped to navigate the challenges of the digital age, ensuring your brand remains relevant and resonant with your audience, no matter the platform. Don’t miss this opportunity to transform your approach and achieve iconic brand longevity akin to Beyoncé's enduring influence in the entertainment industry.
Key Takeaways:
Integration of Email and Social Media: Understanding how to seamlessly integrate email marketing with social media efforts to expand reach and reinforce brand presence. Building a Robust Email List: Strategies for developing a strong email list that provides a direct line of communication to your audience, independent of social media algorithms. Data Integration for Targeted Campaigns: Leveraging combined data from email and social media to create personalized, targeted marketing campaigns that resonate with the audience. Utilization of AI Tools: Implementing AI and automation tools to enhance efficiency and effectiveness across marketing channels. Consistent Brand Voice Across Platforms: Maintaining a unified brand voice and message across all digital platforms to strengthen brand identity and user trust. Proactive Adaptation to Platform Changes: Staying ahead of social media platform changes and algorithm updates to keep engagement high and interactions meaningful. Conversion of Social Followers to Email Subscribers: Techniques to encourage social media followers to subscribe to email, ensuring a direct and consistent connection. Sustainable Growth and Minimized Platform Dependence: Strategies to diversify digital presence and reduce reliance on any single social media platform, thereby mitigating risks associated with platform volatility.
Conferences like DigiMarCon provide ample opportunities to improve our own marketing programs by learning from others. But just because everyone is jumping on board with the latest idea/tool/metric doesn’t mean it works – or does it? This session will examine the value of today’s hottest digital marketing topics – including AI, paid ads, and social metrics – and the truth about what these shiny objects might be distracting you from.
Key Takeaways:
- How NOT to shoot your digital program in the foot by using flashy but ineffective resources
- The best ways to think about AI in connection with digital marketing
- How to cut through self-serving marketing advice and engage in channels that truly grow your business
Mastering Dynamic Web Designing A Comprehensive Guide.pdfIbrandizer
Dynamic Web Designing involves creating interactive and adaptable web pages that respond to user input and change dynamically, enhancing user experience with real-time data, animations, and personalized content tailored to individual preferences.
We will explore the transformative journey of American Bath Group as they transitioned from a traditional monolithic CMS to a dynamic, composable martech framework using Kontent.ai. Discover the strategic decisions, challenges, and key benefits realized through adopting a headless CMS approach. Learn how composable business models empower marketers with flexibility, speed, and integration capabilities, ultimately enhancing digital experiences and operational efficiency. This session is essential for marketers looking to understand the practical impacts and advantages of composable technology in today's digital landscape. Join us to gain valuable insights and actionable takeaways from a real-world implementation that redefines the boundaries of marketing technology.
Dive deep into the cutting-edge strategies we're employing to revolutionize our web presence in the age of AI-driven search. As Gen Z reshapes the digital realm, discover how we can bridge the generational divide. Unlock the synergistic power of PPC, social media, and SEO, driving unparalleled revenues for our projects.
Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
In this humorous and data-heavy Master Class, join us in a joyous celebration of life honoring the long list of SEO tactics and concepts we lost this year. Remember fondly the beautiful time you shared with defunct ideas like link building, keyword cannibalization, search volume as a value indicator, and even our most cherished of friends: the funnel. Make peace with their loss as you embrace a new paradigm for organic content: Pillar-Based Marketing. Along the way, discover that the results that old SEO and all its trappings brought you weren’t really very good at all, actually.
In this respectful and life-affirming service—erm, session—join Ryan Brock (Chief Solution Officer at DemandJump and author of Pillar-Based Marketing: A Data-Driven Methodology for SEO and Content that Actually Works) and leave with:
• Clear and compelling evidence that most legacy SEO metrics and tactics have slim to no impact on SEO outcomes
• A major mindset shift that eliminates most of the metrics and tactics associated with SEO in favor of a single metric that defines and drives organic ranking success
• Practical, step-by-step methodology for choosing SEO pillar topics and publishing content quickly that ranks fast
From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptxBoston SEO Services
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
Are you struggling to differentiate yourself in a saturated market? Do you find it challenging to attract and retain buyers? Learn how to effectively communicate your expertise using a Free Book Funnel designed to address these challenges and attract premium clients. This session will explore how a well-crafted book can be your most effective marketing tool, enhancing your credibility while significantly increasing your leads and sales while decreasing overall lead cost. Unpacking practical steps to create a magnetic book funnel that not only draws in your ideal customers, but also keeps them engaged. Break through the noise in the marketing world and leave with a blueprint that will transform your sales strategy.
In this humorous and data-heavy session, join us in a joyous celebration of life honoring the long list of SEO tactics and concepts we lost this year. Remember fondly the beautiful time you shared with defunct ideas like link building, keyword cannibalization, search volume as a value indicator, and even our most cherished of friends: the funnel. Make peace with their loss as you embrace a new paradigm for organic content: Pillar-Based Marketing. Along the way, discover that the results that old SEO and all its trappings brought you weren’t really very good at all, actually.
In this respectful and life-affirming service—erm, session—join Ryan Brock (Chief Solution Officer at DemandJump and author of Pillar-Based Marketing: A Data-Driven Methodology for SEO and Content that Actually Works) and leave with:
• Clear and compelling evidence that most legacy SEO metrics and tactics have slim to no impact on SEO outcomes
• A major mindset shift that eliminates most of the metrics and tactics associated with SEO in favor of a single metric that defines and drives organic ranking success
• Practical, step-by-step methodology for choosing SEO pillar topics and publishing content quickly that ranks fast
The advent of AI offers marketers unprecedented opportunities to craft personalized and engaging customer experiences, evolving customer engagements from one-sided conversations to interactive dialogues. By leveraging AI, companies can now engage in meaningful dialogues with customers, gaining deep insights into their preferences and delivering customized solutions.
Susan will present case studies illustrating AI's application in enhancing customer interactions across diverse sectors. She'll cover a range of AI tools, including chatbots, voice assistants, predictive analytics, and conversational marketing, demonstrating how these technologies can be woven into marketing strategies to foster personalized customer connections.
Participants will learn about the advantages and hurdles of integrating AI in marketing initiatives, along with actionable advice on starting this transformation. They will understand how AI can automate mundane tasks, refine customer data analysis, and offer personalized experiences on a large scale.
Attendees will come away with an understanding of AI's potential to redefine marketing, equipped with the knowledge and tactics to leverage AI in staying competitive. The talk aims to motivate professionals to adopt AI in enhancing their CX, driving greater customer engagement, loyalty, and business success.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Unlock the secrets to enhancing your digital presence with our masterclass on mastering online visibility. Learn actionable strategies to boost your brand, optimize your social media, and leverage SEO. Transform your online footprint into a powerful tool for growth and engagement.
Key Takeaways:
1. Effective techniques to increase your brand's visibility across various online platforms.
2. Strategies for optimizing social media profiles and content to maximize reach and engagement.
3. Insights into leveraging SEO best practices to improve search engine rankings and drive organic traffic.
2. 2
INDEX
S.No. TOPIC PAGE NO.
1 Acknowledgement 1
2 Introduction 3
3 Literature Review 5
4 Product Life Cycle 8
5 International Product Life Cycle
5.1 Stages of IPLC
5.2 Pros
5.3 Cons
11
13
15
16
6 Aston Martin
6.1 About The Company
6.2 Evolution of the icon
6.3 IPLC of Aston Martin
17
18
20-25
7 Conclusion 26
8 Latest News of Aston Martin 27
9 Bibliography 28
3. 3
INTRODUCTION
The international product life cycle is a theoretical model describing how an industry evolves
over time and across national borders. This theory also charts the development of a
company’s marketing program when competing on both domestic and foreign fronts.
International product life cycle concepts combine economic principles, such as market
development and economies of scale, with product life cycle marketing and other standard
business models .The four primary elements of the international product life cycle theory are:
the structure of the demand for the product, manufacturing, international competition and
marketing strategies, and the marketing strategy of the company that invented or innovated
the product. These elements are categorized depending on the product’s stage in the
traditional product life cycle. Introduction, growth, maturity, and decline are the stages of the
basic product life cycle.
In 1966, Raymond Vernon published a model that described internationalization patterns of
organizations. He looked at how U.S. companies developed into multinational corporations
(MNCs) at a time when these firms dominated global trade, and per capita income in the U.S.
was, by far, the highest of all the developed countries.
Vernon focused on the dynamics of comparative advantage and drew inspiration from the
product life cycle to explain how trade patterns change over time.
His IPLC described an internationalization process wherein a local manufacturer in an
advanced country (Vernon regarded the United States of America as the principle source of
inventions) begins selling a new, technologically advanced product to high-come consumers
in its home market. Production capabilities build locally to stay in close contact with its
clientele and to minimize risk and uncertainty. As demand from consumers in other markets
rises, production increasingly shifts abroad enabling the firm to maximize economies of scale
and to bypass trade barriers. As the product matures and becomes more of a commodity, the
number of competitors increases. In the end, the innovator from the advanced nation
becomes challenged in its own home market making the advanced nation a net importer of
the product. This product is produced either by competitors in lesser developed countries or,
4. 4
if the innovator has developed into a multinational manufacturer, by its foreign based
production facilities.
Many products follow a predictable pattern in international trade. Understanding the
international product life cycle may lead to improved policies resulting in increased exports
and a reduction in the effectiveness of import competition.
5. 5
LITERATURE REVIEW
Some evolving observations about International product Life Cycle:
The International Product Life Cycle is an attractive concept, but one which the common
consensus is that it has some descriptive value, but rather limited or non-existent prescriptive
value.
Based on a review of research evidence published since 1975, it is suggested that three areas
need to be explored and expanded. The first is a careful reexamination of the foundation of
the concept, then there needs to be a focus on the product life cycle as a dependent variable,
and third, there is a need from application of meta-theory criteria to guide future research.
International product life cycle has the potential to play a central, if not the central role in our
quest to develop a solid theory based foundation for marketing practice. Furthermore, it
seems possible, to speculate, that, if properly documented through research, the IPLC could
become a powerful predictive concept. Hopefully, this would lead to more efficient
allocation of resources, but at the very least, result in outcomes having higher probabilities of
success.
Hofer (1975, p. 798) argues that "the most fundamental variable in determining an
appropriate business strategy is the stage of the international product life cycle."
Likewise, Biggadike (1981) identified the international product life cycle as one of the five
major contributions that marketing has made to strategic management.
Michael Porter (1980, p. 157) recognizes the international product life cycle as "the
grandfather of concepts for predicting the probable course of industry evolution."Most would
agree with Day in his 1981 review of the product life cycle:
There is a tremendous ambivalence toward the international product life cycle concept within
marketing. On one hand, the concept has an enduring appeal because of the intuitive logic of
the product birth > growth > maturity > decline > rebirth sequence based on a biological
analogy. As such, it has considerable descriptive value when used as a systematic framework
6. 6
for explaining market dynamics. However, the simplicity of the international product life
cycle concept makes it vulnerable to criticism, especially when it is used as a predictive
model for anticipating when changes will occur and one stage will succeed another, or as a
normative model which attempts to prescribe what alternative strategies should be considered
at each stage. (Day 1981, p. 60)
Muhs (1985) interviewed Jones in 1982 and reports that "the mortality curve, product
evolution, and profit time relationships were all probably the basis for the international
product life cycle... but that he did remember dreaming up some of the ideas and jargon."
Muhs also reports that Otto Kleppner (1931) conceptualized an antecedent of the
International Product Life Cycle in his classic text, Advertising Procedure. He suggested that
most products pass-through the stages of "pioneering", "competitive", and"retentitive"
(Kleppner 1931, p. 5)
Rink and Swan (1979) in their review of the literature identified eleven different product life
cycles. One of the more extensive to be published to data is that of Meenaghan and Turnbull
(1981). As part of an empirical investigation of the applicability of the Product Life Cycle to
“Popular Record Marketing,” they review the theory with its attendant problems.
The International Product Life Cycle literature is varied and diverse. The earlier literature
tends to be more optimistic about the usefulness of the concept while the more recent
literature is concerned about its limitations, but also with developing a better understanding
of the concept through empirical research.
Weakness & Criticisms:
The International Product Life Cycle has been criticized by a number of writers, for a variety
of reasons. Of course, some of the criticisms are more fundamental than others. The
criticisms seem to fall into the following categories: - level of aggregation It is not clear
whether the concept is most appropriate for product class, product form or brand.
Tellis and Crawford (1981, p. 126) suggest that "authors generally feel that product forms
bear the closest approximation to the IPLC, individual brands are difficult to model, and
patterns at the level of product class are less apparent because of the longer sales trends
7. 7
involved. " However, Polli and Cook(1969) report being able to identify separate life cycles
for product class, product form and brand for cigarettes.- self-fulfilling prophecy Dhalla and
Yuspeh (1976) cite evidence that suggests for consumer goods, their decline is not inevitable.
The belief that goods will decline often leads to premature cutbacks in marketing and
advertising support according to Dhalla and Yuspeh which leads to a self-fulfilling prophecy
of decline. They argue that in many cases appropriate use of advertising and other marketing
tools can prevent the decline stage. Cannon (1978, p. 238)
Tallis and Crawford (1981, p. 131) feel strongly that, "the death stage of the PLC need never
be accepted as certain except when all other innovative modifications fail to provide a
profitable alternative, as in the special case of fad and fashion products."
And then there is the belief supposedly held by Proctor and Gamble that the International
Product Life Cycle does not exist.- not a model Hunt argues that the typical explanation of
the International Product Life Cycle is "vacuous" because, in essence, "if the level of sales
determines the stage of the life cycle, then the stage in the life cycle cannot be used to
explain the level of sales." (Hunt 1983, p. 131)
8. 8
PRODUCT LIFE CYCLE
“The product life cycle is an attempt to recognize distinct stages in sales history of the
product.”
- Philip Kotler
Product life cycle is the historical study of (sales of) the product. It includes when it was
introduced; when it was getting rapid acceptance; when it was on the peak of its position;
when it started falling from the peak; and when it disappeared. Product passes through
certain stages during its life span. The theory of a product life cycle was first introduced in
the 1950s to explain the expected life cycle of a typical product from design to obsolescence,
a period divided into the phases of product introduction, product growth, maturity, and
decline. The goal of managing a product's life cycle is to maximize its value and profitability
at each stage. Life cycle is primarily associated with marketing theory.
Typically, it passes through four stages as listed below:
1. INTRODUCTION:
This is the stage where a product is conceptualized and first brought to market. The goal of
any new product introduction is to meet consumers' needs with a quality product at the
lowest possible cost in order to return the highest level of profit. The introduction of a new
product can be broken down into five distinct parts:
Idea validation
Conceptual design
Specification and design
Prototype and testing
Manufacturing ramp-up
9. 9
Techniques used to exploit early stages make use of penetration pricing (low pricing for rapid
establishment) as well as "skimming," pricing high initially and then lowering price after the
"early acceptors" have been lured in.
2. GROWTH:
The growth phase occurs when a product has survived its introduction and is beginning to be
noticed in the marketplace. At this stage, a company can decide if it wants to go for increased
market share or increased profitability. This is the boom time for any product. Production
increases, leading to lower unit costs. Sales momentum builds as advertising campaigns
target mass media audiences instead of specialized markets (if the product merits this).
Competition grows as awareness of the product builds. Minor changes are made as more
feedback is gathered or as new markets are targeted. The goal for any company is to stay in
this phase as long as possible.
3. MATURITY (INCLUDING SATURATION ) :
Sales rise, but at the decreasing rate. Saturation is marked with stable sales. At the maturity
stage, sales growth has started to slow and is approaching the point where the inevitable
decline will begin. Defending market share becomes the chief concern, as marketing staffs
have to spend more and more on promotion to entice customers to buy the product.
Additionally, more competitors have stepped forward to challenge the product at this stage,
some of which may offer a higher-quality version of the product at a lower price. This can
touch off price wars, and lower prices mean lower profits, which will cause some companies
to drop out of the market for that product altogether. The maturity stage is usually the longest
of the four life cycle stages, and it is not uncommon for a product to be in the mature stage
for several decades.
10. 10
4. DECLINE:
It is the stage when sales start falling. This occurs when the product peaks in the maturity
stage and then begins a downward slide in sales. Eventually, revenues will drop to the point
where it is no longer economically feasible to continue making the product. Investment is
minimized. The product can simply be discontinued, or it can be sold to another company. A
third option that combines those elements is also sometimes seen as viable, but comes to
fruition only rarely. Under this scenario, the product is discontinued and stock is allowed to
dwindle to zero, but the company sells the rights to supporting the product to another
company, which then becomes responsible for servicing and maintaining the product.
11. 11
INTERNATIONAL PRODUCT LIFE CYCLE
The international product life cycle is a theoretical model describing how an industry evolves
over time and across national borders. This theory also charts the development of a
company’s marketing program when competing on both domestic and foreign fronts.
International product life cycle concepts combine economic principles, such as market
development and economies of scale, with product life cycle marketing and other standard
business models.
The four primary elements of the international product life cycle theory are: the structure of
the demand for the product, manufacturing, international competition and marketing strategy,
and the marketing strategy of the company that invented or innovated the product. These
elements are categorized depending on the product’s stage in the traditional product life
cycle. Introduction, growth, maturity, and decline are the stages of the basic product life
cycle.
During the introduction stage, the product is new and not completely understood by most
consumers. Customers that do understand the product may be willing to pay a higher price
for a cutting-edge good or service. Production is dependent on skilled laborers producing in
short runs with rapidly changing manufacturing methods. The innovator markets mostly
domestically, occasionally branching out to sell the product to consumers in other developed
countries.
International competition is usually nonexistent during the introduction stage of the
international product life cycle, but during the growth stage competitors in developed
markets begin to copy the product and sell domestically. These competitors may also branch
out and begin exporting, often starting with the county that initially innovated the product.
The growth stage is also marked by an emerging product standard based on mass production.
Price wars often begin as the innovator breaks into an increasing amount of developed
countries, introducing the product to new and untapped markets.
At some point, the product enters the maturity stage of the international product life cycle
and even the global marketplace becomes saturated, meaning that almost everyone who
would buy the product has bought it, either from the innovating company or one of its
12. 12
competitors. Businesses compete for the remaining consumers through lowered prices and
advanced product features. Production is stable, with a focus on cost-cutting manufacturing
methods, so that lowered prices may be passed on to value-conscious consumers.
Product innovators must guard both foreign and domestic markets from international
competition, while finally breaking into riskier developing markets in search of new
customers. When the product reaches the decline stage, the innovators may move production
into these developing countries in an effort to boost sales and keep costs low. During decline,
the product may become obsolete in most developed countries, or the price is driven so low
that the market becomes close to 100% saturated.
When a product is first introduced in a particular country, it sees rapid growth in sales
volume because market demand is unsatisfied. As more people who want the product buy it,
demand and sales level off. When demand has been satisfied, product sales decline to the
level required for product replacement. In international markets, the product life cycle
accelerates due to the presence of "follower" economies that rarely introduce new
innovations but quickly imitate the successes of others. They introduce low-cost versions of
the new product and precipitate a faster market saturation and decline.
13. 13
STAGES OF INTERNATIONAL PRODUCT LIFE CYCLE
The international product life cycle theory consists of three stages:
1. NEW PRODUCT
The IPLC begins when a company in a developed country wants to exploit a technological
breakthrough by launching a new, innovative product on its home market. Such a market is
more likely to start in a developed nation because more high-income consumers are able to
buy and are willing to experiment with new, expensive products (low price elasticity).
Furthermore, easier access to capital markets exists to fund new product development.
Production is also more likely to start locally in order to minimize risk and uncertainty: “a
location in which communication between the markets and the executives directly concerned
with the new product is swift and easy, and in which a wide variety of potential types of
input that might be needed by the production units are easily come by”.
Export to other industrial countries may occur at the end of this stage that allows the
innovator to increase revenue and to increase the downward descent of the product’s
experience curve. Other advanced nations have consumers with similar desires and incomes
making exporting the easiest first step in an internationalization effort. Competition comes
from a few local or domestic players that produce their own unique product variations.
2. MATURING PRODUCT
Exports to markets in advanced countries further increase through time making it
economically possible and sometimes politically necessary to start local production. The
product’s design and production process becomes increasingly stable. Foreign direct
investments (FDI) in production plants drive down unit cost because labor cost and
transportation cost decrease. Offshore production facilities are meant to serve local markets
that substitute exports from the organization’s home market. Production still requires high-
skilled, high paid employees. Competition from local firms jump start in these non-domestic
advanced markets. Export orders will begin to come from countries with lower incomes.
14. 14
3. STANDARDISED PRODUCT
During this phase, the principal markets become saturated. The innovator's original
comparative advantage based on functional benefits has eroded. The firm begins to focus on
the reduction of process cost rather than the addition of new product features. As a result, the
product and its production process become increasingly standardized. This enables further
economies of scale and increases the mobility of manufacturing operations. Labour can start
to be replaced by capital. “If economies of scale are being fully exploited, the principal
difference between any two locations is likely to be labour costs”. To counter price
competition and trade barriers or simply to meet local demand, production facilities will
relocate to countries with lower incomes. As previously in advanced nations, local
competitors will get access to first hand information and can start to copy and sell the
product.
The demand of the original product in the domestic country dwindles from the arrival of new
technologies, and other established markets will have become increasingly price-sensitive.
Whatever market is left becomes shared between competitors who are predominately foreign.
A MNC will internally maximize “offshore” production to low-wage countries since it can
move capital and technology around, but not labour. As a result, the domestic market will
have to import relatively capital intensive products from low income countries. The machines
that operate these plants often remain in the country where the technology was first invented.
15. 15
PROS:
1. The model helps organizations that are beginning their international expansion or are
carrying products that initially require experimentation to understand how the
competitive playground changes over time and how their internal workings need to be
refitted. The model can be used for product planning purposes in international
marketing.
2. New product development in a country does not occur by chance. A country must
have a ready market, an able industrial capability and enough capital or labour to
make a new product flourish. No two countries exist with identical local market
conditions. Countries with high per capita incomes foster newly invented products.
Countries with lower per capita incomes will focus on adapting existing products to
create lower priced versions.
3. The IPLC model was widely adopted as the explanation of the ways industries
migrated across borders over time, e.g. the textile industry. Furthermore, Vernon was
able to explain the logic of an advanced, high income country such as the USA that
exports slightly more labour-intensive goods than those that are subject to
competition from abroad.
4. According to Vernon, most managers are “myopic”. Production is only moved
outside the home market when a “triggering event” occurs that threatens export such
as a new local competitor or new trade tariffs. Managers act when the threat has
become greater than the risk in or uncertainty from reallocating operations abroad.
5. The model’s validity was proved by empirical evidence from the teletransmission
equipment industry in the post-war years. The model is best applied to consumer-
oriented physical products based on a new technology at a time when functionality
supersedes cost considerations and satisfies a universal need.
16. 16
CONS:
1. Vernon’s main assumption was that the diffusion process of a new technology occurs
slowly enough to generate temporary differences between countries in their access
and use of new technologies. By the late 1970’s, he recognized that this assumption
was no longer valid. Income differences between advanced nations had dropped
significantly, competitors were able to imitate product at much higher speeds than
previously envisioned and MNCs had built up an existing global network of
production facilities that enabled them to launch products in multiple markets
simultaneously. Investments in an existing portfolio of production facilities made it
harder to relocate plants.
2. The model assumed integrated firms that begin producing in one nation, followed by
exporting and then building facilities abroad. The business landscape had become
much more interrelated since the 1950’s and early 1960’s, less US-centric and created
more complex organizational structures and supplier relations. The trade-off between
export or foreign direct investments was too simplistic: more entry modes exist.
3. The model assumed that technology can be captured in capital equipment and
standard operating procedures. This assumption underpinned the discussion on
labour-intensity, standardization and unit cost.
4. The model stated that the stages are separate and sequential in order. Vernon’s
Harvard Multinational Enterprise Project that took place from 1963 through 1986,
was a massive study of global marketing activities at US, European, Japanese and
emerging-nation corporations. The study found that companies design strategies
around their product technologies. High-technology producers behave differently
from firms with less advanced goods. Companies that invested more R&D to improve
their products and to refresh their technologies were able to ‘push’ these products
back to the new product phase.
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ASTON MARTIN
ABOUT THE COMPANY
The very essence of Aston Martin is something you feel each time you look at one of our
cars. It sweeps over you on every unforgettable drive. Powerful, exhilarating and precise yet
timelessly elegant and sophisticated; our cars blend iconic design, exceptional engineering
and unrivalled craftsmanship to create an unforgettable, emotional experience. Each car is the
essence of Power, Beauty and Soul.
What do you do when you have fair amounts of car racing talent, ample passion for
automobiles and your enthusiasm, if converted into electricity, could power a small town?
You start your own car production and sales business, of course. That is exactly how the
Aston Martin brand was started, proudly born into a garage, much like grunge music. Lionel
Martin and Robert Bamford garnered levels of success similar to Kurt Cobain's Nirvana.
However, Martin and Bamford's version of Nirvana was engineered form scrap through a
partnership that would ultimately lead to a kick in the luxury auto-market's groin.
Aston Martin was founded in 1913, soon after Martin emerged victorious out of the famed
Aston Hill race. The duo produced their first car 2 years later by fitting a four-cylinder
Coventry-Simplex engine to a 1908 Isotta-Fraschinni chassis. However, their plans of
starting production were abruptly shattered by the First World War outbreak when both of
the car-makers joined the army.
Still, Aston Martin would prevail as soon as the War was over, with the company being
refunded to resume its activity. However, not much time went by before Bamford left Aston
Martin in 1920. Luckily enough, a wealthy investor saw the true potential of the brand and
poured heavy funds into its rejuvenation. Count Louis Zborowski investment turned almost
overnight into a delicious technological improvement reward topped with racing track
winnings whipped cream.
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In 1922, Aston Martin produced vehicles to compete in the French Grand Prix. Besides
gaining fame by appearing at some of the most popular races of that time, the cars also
collected acclaim by setting new speed and endurance records at Brooklands. The three types
of chassis that were used at the time became known as the winning trio with chassis number
1915 at the top and supporting numbers 1914 and 1916 at the sides.
However, the tidal wave of fame that has propelled Aston Martin to new heights broke
against the solid wall of a 1924 bankruptcy. Still, it survived, having been purchased by Lady
Charlwood who gave her son John Benson an important administrative role. It would
ultimately prove that her son could not face the challenges of such a position and the
company failed again only one year later. By 1926, the doors had slammed shut, with Lionel
Martin stepping into the shoes of his former business partner, Robert Bamford.
Soon after Martin's leaving, the company would be revived for a second time by a ring of
rich investors including Bill Renwick and Augustus Bertelli who were responsible for the
design and performance of some of the models that would later enter production. By 1937,
Bertelli had already developed a variety of vehicles, some of the most famous being the 'Le
Mans', the Mk II' and the 'Ulster'.
Although Aston Martin was doing well, it was soon afflicted by a third set of financial
problems that were deftly fixed by L. Prideaux Brune, who continued to finance the company
for a short time. After changing ownership for a fourth time, the luxury car-maker became
still, once the Second World War broke out.
In 1947, the lethargy that had snugly wrapped around the company's activity received a
coupe de grace from 'charioteer' David Brown, who had also acquired Lagonda the same
year. Aston Martin Motors, who had gained the name during its 1926 resurrection, had
entered a new stage of production. The first model of the DB series would soon appear, with
a successor being announced in 1950, the DB3 seven years later and so on until the early 70's
with the DBS V8.
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Although Aston Martin enjoyed success and appreciation, it switched to financial-trouble
mode once more, changing two ownerships over the next two decades until Ford took over in
the early 90's. During this time, Aston had grown in size and notoriety with a much wider
palette of offerings ranging from the Volante to the Vantage and the DB7. Although Ford
would not slacken the reins on Aston Martin's leadership, the board committee was forced to
take the same decision as Aston's previous owners: sell the company. Last year Aston Martin
entered a new era when it was purchased by a prodrive chairman David Richards-led
consortium for the amount of $848 million. Ever since, Aston has registered an overall sales
increase and has expanded by opening more dealers in Europe and even moving to China, a
performance that hasn't been achieved in almost a century worth of car-brand history.
EVOLUTION OF AN ICON
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INTERNATIONPRODUCTLIFE CYCLEOF ASTONMARTIN
The automobile is a relatively recent invention, with a history of less than 130 years,
however we’ve gotten so used to it and it’s such an important part of our lives that it seems
like it’s been here forever. And among all car brands there are some with an impressive
history behind them, one of the most recent members of the “100 year” club being one of the
most important British carmakers, Aston Martin. A brand that is synonymous with
“elegance”, “power” and “luxury” and which today identifies itself by the slogan “Power.
Beauty. Soul”
Like many companies out there, the British brand had its ups and downs throughout its
history, having an interesting career in motorsport and also becoming the favorite car of the
world’s most famous spy, James Bond. So let’s take a look at how Aston Martin became the
legend it is today.
THE BEGINNINGS
It all started on January 15, 1913 when Lionel Martin and Robert Bamford became associates
and created a company whose purpose was to sell automobiles built by Singer. The name
they originally used was Bamford & Martin Ltd and after Lionel Martin successfully took
part in the Aston Hill races in Buckinghamshire, the two decided to build their own car
which they named Aston Martin.
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So in 1915 the first Aston Martin automobile was ready for sale. To build it, the two used a
four-cylinder Coventry-Simplex engine that was mounted on an Isotta-Fraschini chassis. The
car was quickly nicknamed “Coal Scuttle”, since many thought it resembled a household
item that was very used at that time. But things were delayed by the World War I and, in
1920, production was moved to Kensington, with work starting on developing and
manufacturing a new model. Robert Bamford left the struggling company in 1920 and the
one to save it was Count Louis Zborowski. Around 55 units are built, but the company goes
into financial difficulties again and went bankrupt in 1924.
Aston Martin is bought by Lady Charlwood, who tries to save it, but it goes bankrupt again
in 1925, with the Kensington factory being closed in 1926. The same year, Lionel Martin
leaves the company. However, towards the end of 1926, Aston Martin is saved by a group of
investors led by Bill Renwick and Bert Bertelli. The two are the key people in the company’s
rebirth, with Bertelli serving as the technical director and designer between 1926 and 1937.
During this period, Aston Martin launched cars such as the T-Type, International, Le Mans
or MkII. Most of these models were open two-seaters and many also spawned motorsport
versions. Bertelli was also a good driver, so Aston Martin had some interesting results at Le
Mans or Mille Miglia during that time, which helped promoting the brand.
However, financial troubles showed up again in 1932, and assistance is required again. The
ones to save it this time were L. Prideaux Brune and Sir Arthur Sutherland. To assure
financial stability, they decided to focus entirely on street cars, with more than 700 units
being built until World War II stopped production. During the war, Aston Martin built parts
for British planes.
DAVID BROWN AND THE BIRTH OF A FAMOUS NAME: “DB”
In 1947, David Brown Limited buys Aston Martin and the Lagonda brand, with Sir David
Brown deciding to merge the two brands and use all resources to start creating a new line of
models, called DB. The DB2 was announced in 1952, followed by the DB2/4, DB2/4 Mk2,
DB Mk3 and, finally, the famous DB4, which was designed in Italy. Other DB models were
introduced later, the DB5 in 1963, the DB6 in 1965 and the DBS in 1967.
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FINANCIAL DIFFICULTIES
Aston Martin still didn’t manage to stay away from financial troubles and in 1970 the
company changed owners again, when it was bought by Company Developments, a
Birmingham based group of companies led by William Wilson. But this didn’t put an end to
Aston Martin’s misery and in 1975 it is sold again, this time to American businessmen Peter
Sprague and George Minden, for only £1 million. The company gets back on its feet for a
while, with 360 new workers being hired to build new models such as the V8 Vantage
(1977), the Volante convertible (1978) or the futuristic looking Lagonda.
The tough financial climate of the early ‘80s again brings problems to Aston Martin,
especially with the failed attempt to buy MG. Even though the transaction never went
through, it was an uninspired attempt since bankruptcy was again threatening the carmaker.
And the one to save the brand was Victor Gauntlett who has a major contribution in Pace
Petroleum and CH Industrials buying an important share in the company. But that’s not all
Gauntlett did for Aston Martin, because he was also actively involved in promoting the
brand. He marketed the Lagonda as the fastest four-seater in the world, achieving impressive
sales in countries like Oman, Kuwait or Qatar. He also drew new funds to support the
company and negotiated for the brand to get back in the James Bond movies next to Timothy
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Dalton. He even went as far as sending his own personal car on set, a pre-production
Vantage.
THE FORD ERA
But the company needed a more long-term approach and the one who was able to offer that
was Ford. In 1991, the American carmaker becomes Aston Martin’s new owner as part of
what would later be known as the Premier Automotive Group division. Throughout its
history, this division was responsible for brands like Aston Martin, Jaguar, Land Rover and
Volvo.
In 1993, Aston Martin launches the new DB7, which was designed by Ian Callum and
marked the legendary name’s comeback. In 2000, Dr. Ulrich Bez joins Aston Martin and
becomes one of the most important names in the company’s recent history. He became and
still is its CEO and successfully managed to bring Aston Martin back on the map. Under his
leadership, plenty of new cars were launched, such as the V12 Vantage, and the brand again
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returned to James Bond movies, Aston Martin cars being driven by Pierce Brosnan in “Die
Another Day” and Daniel Craig in “Casino Royale”.
However, the first signs of the upcoming financial crisis forced Ford to dissolve its Premier
Automotive Group division and all brands were sold.
DAVID RICHARDS AND THE COMPANY’S REBIRTH
And so, in 2007, the David Richards era starts for Aston Martin. Car enthusiasts probably
know Richards for his involvement in motorsport. He is the owner of the prodrive group that
was in charge with the Subaru and then Mini World Rally Championship teams. He was also
involved in Formula One, assisting teams such as BAR and Benetton, so he was a pretty
important name in the British car industry. Using this, he managed to “recruit” a group of
businessmen from the United States and Kuwait which bought Aston Martin from Ford for
£475 million.
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Things turned out extremely well for Aston Martin and today the company is going through
one of the best periods of its life. Its cars are amazing and attract a lot of wealthy customers,
while extremely exclusive editions such as the Aston Martin One-77 fascinate car enthusiasts
all over the world. And even though the company also went into new territories, such as the
Rapide luxury limousines or the Cygnet small city car (which is actually a rebadged Toyota
IQ), its main lineup still consists of beautiful coupes such as the Vantage, DB9, Vanquish or
Zagato.
ASTON MARTIN AND JAMES BOND
We couldn’t have finished this article without mentioning a partnership that heavily
influenced Aston Martin’s history. For a lot of people, Aston Martin has always been known
as that beautiful car driven by James Bond and this helped the British carmaker’s image a lot.
Even though the first James Bond car was a Sunbeam Alpine, Aston Martin made its screen
debut in the third movie of the series, when Sean Connery drives the famous DB5. Soon, the
DB5 basically became synonymous with James Bond after being used in five more movies,
including the most recent one, “Skyfall”. Other Aston Martins driven by James Bond were
the DBS in “On Her Majesty’s Secret Service”, the V8 Vantage Volante in “The Living
Daylights”, while modern times saw the V12 Vanquish in “Die Another Day” and the DBS
V12 in “Casino Royale” and “Quantum of Solace”.
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CONCLUSION
International product life cycle theory is significant when it comes to dynamics of
international business in this modern era. Since the adoption of the theory by marketing it has
achieved a universal acceptance and this is attributed to its appeal and wider application. The
theory has been widely quoted and frequently taught element of marketing and this has it
being very influential as it has been seen in other theories ranging from new product
development, in the positioning and differentiation and finally in the portfolio analysis. Thus
international product life cycle provides an intuitively appealing as well as readily
understandable framework of analysis process to be used from considering future growth.
Considering today's high competitive global markets companies are expected to meeting the
increasing demands of its customers as well as rapidly continuously and rapidly improving
its products and services. Thus for any company to realize such demanding goals the
international product life cycle management enhance the company efforts of meeting such
demand by extending as well as bringing together previously separate filed like the computer
aided design, sustainable management, product data management, enterprises resource
planning and the life cycle analysis and recycling.
Companies can no longer afford failure to analyze opportunities for profits offered by exports
and the possible threats to their own market posed by imports. The trend of international
events indicates an increased importance of trade to businessmen. In response to this
changing environment, the manager must have a continuing program to analyze the future
directions of international trade in his products so that he may plan early enough for
appropriate policies. The international product life cycle model provides a useful tool in this
analysis.
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LATEST NEWS OF ASTON MARTIN
Frankfurt am Main / Stuttgart, January 29th 2016 – Aston Martin has once
again celebrated success in the latest readers’ vote for the “Best Cars 2016”
held by renowned German automotive magazine auto motor und sport.
The 2016 awards were presented on Thursday in Stuttgart and decided entirely
via readers’ votes, the Aston Martin Vanquish was awarded first place in
the Sports Cars Import category.