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PLC Biju.ppt
1. Biju S K, Government College for
Women, Thiruvananthapuram
2. ๏
๏ Like human beings, products also have their own
life-cycle. From birth to death human beings pass
through various stages e.g. birth, growth, maturity,
decline and death. A similar life-cycle is seen in the
case of products.
PRODUCT LIFE CYCLE
Biju S K, Government College for
Women, Thiruvananthapuram
3. ๏
A Product is introduced among consumers, and if
consumers perceive it as meeting their needs and
want, experiences a period of growth.
Subsequently, it reach the stage of maturity and
when it loses its appeal, its decline starts and
eventually is may be taken off the market (demise).
The classical product life cycle curves are depicted
as โSโ shaped and generally divided in four stages:
Introduction, growth, maturity, and decline.
PRODUCT LIFE CYCLE
Biju S K, Government College for
Women, Thiruvananthapuram
4. Biju S K, Government College for
Women, Thiruvananthapuram
5. Sales
s
Common Product Life Curves
Sales Sales
Time Time Time
(a) Growth-Decline (b) Cycle-Recycle Pattern (c) Innovative Maturity or l
plateau Scalloped Pattern
Biju S K, Government College for
Women, Thiruvananthapuram
6. Growth Maturity
Introduction Decline
Common Product Life Curves
Sales
Profits
Loss
Time
(d) Classical Life Cycle Pattern
Biju S K, Government College for
Women, Thiruvananthapuram
7. Biju S K, Government College for
Women, Thiruvananthapuram
8. Biju S K, Government College for
Women, Thiruvananthapuram
10. ๏
๏ Costs are high,
๏ Slow sales volumes to start,
๏ Little or no competition,
๏ Demand has to be created,
๏ Customers have to be prompted
to try the product,
๏ Makes no profit at this stage
Introduction stage Features
Biju S K, Government College for
Women, Thiruvananthapuram
12. ๏
๏Costs reduced due to economies of scale,
๏Sales volume increases significantly,
๏Competition begins to increase with a few new
players in establishing market,
๏Increased competition leads to price decreases.
Growth Stage Features
Biju S K, Government College for
Women, Thiruvananthapuram
14. ๏
๏ Costs are lowered as a result of increased production
๏ Sales volume peaks and market saturation is reached,
๏ Increase in competitors entering the market
๏ Prices tend to drop due to the Competition
๏ Profits go down.
Maturity Stage Features
Biju S K, Government College for
Women, Thiruvananthapuram
16. ๏
๏ costs become counter-optimal,
๏ sales volume decline or stabilize,
๏ prices, profitability diminish,
๏ profit becomes more a challenge of production/distribution
efficiency than increased sales.
Decline Stage Features
Biju S K, Government College for
Women, Thiruvananthapuram
17. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
18. Biju S K, Government College for
Women, Thiruvananthapuram
19. ๏
๏ Pricing strategy should be adopted:
Market skimming or market penetration.
In Introduction Stage
Biju S K, Government College for
Women, Thiruvananthapuram
20. ๏
๏Marketer may has to change his
marketing strategies,
๏Has to persuade the customer to
prefer his brand.
In Growth Stage
Biju S K, Government College for
Women, Thiruvananthapuram
21. ๏
May try out
๏product and packaging
modifications
๏promotional deals and
๏make special offers
In Maturity Stage
Biju S K, Government College for
Women, Thiruvananthapuram
23. ๏
๏ Some firms may try to link up the sale of these
products with some other premium products.
๏ May begin to prepare new products.
In Decline Stage
Biju S K, Government College for
Women, Thiruvananthapuram
24. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
25. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
26. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
27. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
28. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
29. ๏
Biju S K, Government College for
Women, Thiruvananthapuram
