Ch11 Product Life Cycle
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Excerpt from Chapter 11 Competitive Dynamics - Product Life Cycle. Marketing Management (Kotler et.al)
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The document discusses the product life cycle, which consists of four stages: introduction, growth, maturity, and decline. Each stage is characterized by different sales volumes, costs, profits, and marketing objectives. The introduction stage involves building product awareness at high costs and negative profits. Growth sees rapidly rising sales through expanded distribution and lower prices. Maturity reaches peak sales with efforts to maximize profits and defend market share. Finally, decline has falling sales and profits as the product is phased out.
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The document discusses the product life cycle (PLC), which consists of four stages: introduction, growth, maturity, and decline. It provides examples of products currently in each stage. The introduction stage focuses on creating awareness through limited distribution and promotions. In the growth stage, sales increase as more companies enter the market. The maturity stage sees sales peak and profits decrease as competition intensifies. Finally, the decline stage is marked by falling sales and profits as the product becomes obsolete. The document also discusses different types of product life cycles, such as those for fashions, fads, and styles.
Product Life Cycle
The product life cycle describes the stages a product goes through from development to removal from the market. There are typically four stages: 1) Introduction, when the product is launched, 2) Growth, when sales increase most rapidly, 3) Maturity, when sales peak but growth slows as competition rises, and 4) Decline, when sales begin to fall. Each stage is characterized by different costs, sales volumes, profits, competition levels, and marketing strategies used by businesses. Extension strategies can be used to prolong the maturity stage and delay decline, such as advertising, price reductions, adding new features, or exploring new markets.
Ps of marketing.pptx
The document discusses key concepts in marketing products, including product categories, classifications, sizes, and life cycles. It defines different style structures in fashion like haute couture and ready-to-wear. It also outlines the four stages of a typical product life cycle: introduction, growth, maturity, and decline. For fast-moving industries like apparel, the life cycle usually involves three stages - market development and introduction, growth, and maturity/decline. Understanding a product's life cycle helps businesses make decisions around promotions, inventory levels, and launch timing.
final presentation on product life cycle.pptx
This document contains information about the stages of a product life cycle: introduction, growth, maturity, and decline. It summarizes each stage, including key effects. The introduction stage involves low sales and profits as the product is new to the market. In the growth stage, sales and profits increase along with competition. The maturity stage sees sales increase at a lower rate as competition intensifies. Finally, the decline stage is when sales and profits fall rapidly as the product loses popularity.
Marketing Chapter 13
This chapter discusses the product life cycle and new product development process. It describes the stages of the product life cycle as introduction, growth, maturity, and decline. It also outlines the 7 stages of new product planning: idea generation, product screening, concept testing, business analysis, product development, test marketing, and commercialization. Finally, it examines strategies for the growth, maturity, and decline stages such as developing new uses or finding new customer segments.
Product life cycle .. BY satnam kakkar
Products go through distinct stages from introduction to decline or demise, according to the product life cycle concept. There are four stages: introduction, growth, maturity, and decline. In the introduction stage, public awareness of the new product is important. The growth stage focuses on advertising to tell consumers the product is better than competitors'. In maturity, sales grow fast then stabilize as most potential buyers have purchased. Finally, the decline stage occurs when sales begin to fall as customers are satisfied or replaced by new innovations. Different marketing strategies are needed at each life cycle stage.
product life cycle
The document discusses the product life cycle, which describes the typical stages through which a product passes from introduction to decline. It identifies five stages: introduction, growth, maturity, saturation, and decline. Each stage is characterized by different features related to sales, profits, competition, and market awareness/acceptance of the product. The goal of product life cycle management is to maximize value and profitability at each stage. The document also discusses ways to potentially extend the life cycle through strategies like advertising, exploring new markets, price reductions, and adding new product features.
Product life cycle strategies
This document discusses a company's product life cycle and strategies for different stages. It describes the four stages as introduction, growth, maturity, and decline. During introduction, a product struggles for recognition, then grows through advertising and word of mouth. In maturity, a product reaches peak market penetration before declining as new products emerge. The strategies considered are competition, overall focus, profit, distribution, and advertising. For example, competition is less important in introduction but more in maturity, while profits peak during growth before declining in later stages. The document also notes benefits and limitations of the product life cycle framework.
Product life cycle
The document discusses the product life cycle (PLC) and strategies companies use at each stage. It notes that products pass through distinct stages of introduction, growth, maturity, and decline. During introduction, strategies focus on creating awareness and trial with high promotion at a premium price. Growth focuses on market share gains through distribution expansion, promotions, and price reductions. Maturity aims to maximize profits through diversification while defending market share. Decline entails cost cutting and milking remaining brand value. Strategies may also include market, product, or marketing program modifications to change a brand's course.
Product life cycle shreyansh 4 l
The product life cycle consists of four main stages: market introduction, market growth, market maturity, and sales decline. During market introduction, sales are low as the product is new and awareness is being built through promotion. Market growth sees rapid sales and profit increases as more customers learn about the product and competitors enter the market. In market maturity, sales level off amidst intense competition, and industry profits peak. Finally, in the sales decline stage, the market shrinks as customers switch to newer products and sales continue to fall. The model helps illustrate how marketing strategies should evolve over a product's lifetime. However, it is also limited by focusing on a single product and only being clear about stages retroactively.
Product & brand mgt..
Ganesh K. Kanthali will present on product strategy over the life cycle. There are four stages in a product's life cycle: introduction, growth, maturity, and decline. In the introduction stage, sales and profits are low as costs are high due to product development. Marketing strategies aim to create awareness and trial through high or low promotion and pricing. As the product moves through the growth and maturity stages, sales rise and costs fall, though competition increases. Strategies then focus on market share and profit. Finally, in decline, sales and profits decrease as the product nears the end of its life cycle and strategies center on reducing costs.
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Ch11 Product Life Cycle
- 1. PRODUCT LIFE CYCLE Jocelyn M. Evangelista 7 February 2014
- 2. Product Life Cycle I. Definition II. Four Stages and Marketing Objectives III. Characteristics IV. Common Product Life Cycles
- 3. Product Life Cycle I. Definition A business analysis that attempts to identify distinct stages in the sales history of the product
- 4. Product Life Cycle II. Four Stages and Marketing Objectives 1. Introduction – create product awareness & trial 2. Growth – maximize market share 3. Maturity – maximize profit while defending market share 4. Decline – reduce expenditure
- 6. Product Life Cycle III. Characteristics 1. Introduction Stage ◦Slow sales growth. ◦Products need to establish themselves in the market place. ◦Negative or low profits.
- 7. Product Life Cycle III. Characteristics 2. Growth Stage ◦Rapid sales growth. ◦Early adapters like the product & additional consumers start buying it. ◦Sales rise much faster than expenditures in promos.
- 8. Product Life Cycle III. Characteristics 1. Maturity Stage Three Phases : 1)Growth – Sales growth starts to slow; new competitive forces emerge. 2)Stable – Reached market saturation 3)Decaying Maturity – consumers begin switching to other products.
- 9. Product Life Cycle III. Characteristics 4. Decline Stage ◦End of the product life. ◦Period of the market's sale are significantly below the peak and are declining.
- 10. Product Life Cycle IV. Common Product Life-Cycle Patterns Growth-Slump-Maturity sales grow rapidly when product is first introduced, falls, & stabilizes
- 11. Product Life Cycle IV. Common Product Life-Cycle Patterns Cycle-Recycle - often describes the sales of new drugs
- 12. Product Life Cycle IV. Common Product Life-Cycle Patterns Scalloped - succession of lifecycles based on discovery of new charcteristics, uses or users.
- 13. Summary Periodic examination of products is appropriate because strategies change as products move through their life cycle.