The document discusses the product life cycle and its implications for business strategy. It describes the four stages of a product's life cycle - introduction, growth, maturity, and decline - and outlines the typical characteristics of each stage in terms of sales, costs, profits, marketing objectives, product, price, distribution, and advertising. Key observations are that individual product cycles may vary in length and shape, and that extending the life cycle involves market or product modifications.
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Product strategy can be described as a tool to align your product(s) with your sales and marketing organization. We want the sales organization to be selling what we’ve demonstrated as a product-market fit. Based on this understanding, the talk also dwells into the importance of internal prioritization process to achieve that goal.
Digital Innovators Summit, Atlas, Microsoft AdvertisingAxel Hoehnke
Keynote Presentation at Digital Innovator´s Summit - VDZ Conference.
Germany´s premium event for tier one publisher technology and services.
YieldManagement and Services to increase your return on audience
Axel Hoehnke for Atlas - Microsoft Advertiser & Publisher Solutions
In this talk, Mulyadi will share a few decision processes that had lead TADA Network to revise its mobile strategy in 2016. A conscious decision that partly had made the company on track with its annual target revenue.
Product strategy can be described as a tool to align your product(s) with your sales and marketing organization. We want the sales organization to be selling what we’ve demonstrated as a product-market fit. Based on this understanding, the talk also dwells into the importance of internal prioritization process to achieve that goal.
Digital Innovators Summit, Atlas, Microsoft AdvertisingAxel Hoehnke
Keynote Presentation at Digital Innovator´s Summit - VDZ Conference.
Germany´s premium event for tier one publisher technology and services.
YieldManagement and Services to increase your return on audience
Axel Hoehnke for Atlas - Microsoft Advertiser & Publisher Solutions
this is ppt presentation on product management . it covers features of product ,product levels ,product classification ,product mix and product life cycle stratagies
ntroduction to Marketing - Session 3 at ITM, Mumbai. Includes:
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Pricing is both a science and an art
Pricing seems to be the one “P” that has been dramatically affected by the use of the Internet
Pricing and Distribution
• Cost based pricing
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• Premium pricing
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
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involves recognizing relationships between elements of the marketing mix (e.g.,
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(i.e., industry structure in the language of economics).
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2. Product Life Cycle:
Implications for Business Strategy
Stage of the product life cycle
Introduction Growth Maturity Decline
Sales revenue
Total industry
sales revenue
or profit
Total industry profit
+
0
–
3. Introduction Stage of the
PLC
Sales
Sales Low sales
Low sales
Costs
Costs High cost per customer
High cost per customer
Profits
Profits Negative
Negative
Marketing Objectives Create product awareness
Create product awareness
Marketing Objectives
and trial
and trial
Product
Product Offer a basic product
Offer a basic product
Price
Price Use cost-plus
Use cost-plus
Distribution
Distribution Build selective distribution
Build selective distribution
Advertising
Advertising Build product awareness among
Build product awareness among
early adopters and dealers
early adopters and dealers
4. Growth Stage of the PLC
Sales
Sales Rapidly rising sales
Rapidly rising sales
Costs
Costs Average cost per customer
Average cost per customer
Profits
Profits Rising profits
Rising profits
Marketing Objectives
Marketing Objectives Maximize market share
Maximize market share
Product
Product Offer product extensions,
Offer product extensions,
service, warranty
service, warranty
Price
Price Price to penetrate market
Price to penetrate market
Distribution
Distribution Build intensive distribution
Build intensive distribution
Advertising
Advertising Build awareness and interest in
Build awareness and interest in
the mass market
the mass market
5. Maturity Stage of the PLC
Sales
Sales Peak sales
Peak sales
Costs
Costs Low cost per customer
Low cost per customer
Profits
Profits High profits
High profits
Marketing Objectives
Marketing Objectives Maximize profit while defending
Maximize profit while defending
market share
market share
Product
Product Diversify brand and models
Diversify brand and models
Price
Price Price to match or best
Price to match or best
competitors
competitors
Distribution
Distribution Build more intensive distribution
Build more intensive distribution
Advertising
Advertising Stress brand differences and
Stress brand differences and
benefits
benefits
6. Decline Stage of the PLC
Sales
Sales Declining sales
Declining sales
Costs
Costs Low cost per customer
Low cost per customer
Profits
Profits Declining profits
Declining profits
Marketing Objectives
Marketing Objectives Reduce expenditure and milk the
Reduce expenditure and milk the
brand
brand
Product
Product Phase out weak items
Phase out weak items
Price
Price Cut price
Cut price
Distribution
Distribution Go selective: phase out
Go selective: phase out
unprofitable outlets
unprofitable outlets
Advertising
Advertising Reduce to level needed to retain
Reduce to level needed to retain
hard-core loyal customers
hard-core loyal customers
7. PLC- Important Observations
Individual brands may not follow this pattern
– Sometimes a product may crash and not get to the maturity stage
Product Life Cycle - length of time at each stage - varies
– depends on the products
– can be a few months in each stage
– or it can be years
Generally speaking, due to the
– Competitive Environment
– Technological Environment
– The PLC is getting shorter
8. Extending Product Life Cycle
Market Modification:
– Increase Frequency of use by Present Customers
– Add New Users
– Find New Users
Product Modification:
– Change Product Quality or Packaging
9. Intro Stage
Competitive Situation
– Monopoly or Monopolistic Competition
- your company has no competition because you originated the
product first and are the first to get customers
Product:
– One or a few number of people selling the product
Place:
– Try to find good channels to get exposure
- maybe offer exclusive distribution rights
Promotion:
– AIDA begins
- informative type ads
Price:
– skimming or
penetration pricing
10. Growth Stage
Competitive Situation
– Monopolistic Competition or Oligopoly
- once the market grows, other vendors will want to get involved so you
will lose your monopoly position
Product:
– There are several companies selling so there is competition to make
the "best" product -many companies at this stage will add variations,
color changes, and new FABs to the product to make it more
competitive
- companies in the lead will also work to develop brand familiarity
Promotion:
– Competitive ads
Price:
– "meet the competition" pricing or price cutting
11. Maturity/ Decline Stage
Competitive Situation
– Monopolistic Competition or Oligolpoly or Pure Competition
- more and more vendors get involved as more
companies learn to make the product and people try to "cash in" on
the original idea
- because there are so many vendors, the supply/demand situation
will cause the price to drop and eventually the price will be so low,
nobody will want to make the product anymore because it will be
unprofitable
Product:
– Several companies make the product
- it will become a battle of the brands
Promotion:
– Discount price oriented ads
Price:
– Some companies drop out if they cannot afford to compete at a
lower price
Editor's Notes
Introduction. In this stage marketers spend heavily on promotions to inform the target market about the new product's benefits. Low or negative profits may encourage the company to price the product high to help offset expenses. companies can concentrate on skimming strategies to generate high profits now or on penetration strategies to build market share and dominant the market for larger profits once the market stabilizes. Product Life Cycle Strategies Product Life-Cycle Strategies This CTR relates to the material on pp. 289 and 293.
Product Life-Cycle Strategies This CTR relates to the material on pp. 289-290 and 293. Product Life-Cycle Strategies Growth. In this stage the company experiences both increasing sales and competition. Promotion costs are spread over larger volume and strategic decisions focus on growth strategies. Strategies include adding new features, improving quality, increasing distribution, and entering new market segments.
Product Life Cycle Strategies Maturity. In this stage the company must manage slower growth over a longer period of time. Strategic decisions made in the growth stage may limit choices now. Marketing managers must proactively seek advantage by either market modification to increase consumption, product modification to attract new users (quality, feature, and style improvements), or marketing mix modification in an attempt to improve competitive position. Product Life-Cycle Strategies This CTR relates to the material on pp. 290-292 and 293.
Product Life-Cycle Strategies This CTR relates to the material on pp. 292-293. Product Life Cycle Strategies Decline. In this stage the costs of managing the product may eventually exceed profits. Rate of decline is a major factor in setting strategy. Management may maintain the brand as competitors drop out, harvest the brand by reducing costs of support for short term profit increases, or drop the product (divest) altogether.