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Product Life Cycle




http://www.manishparihar.co.in/
Product Life Cycle

Sales and
Profits ($)

                                                     Sales



                                          Profits


                                                             Time
  Product         Introduction   Growth   Maturity      Decline
  Develop-
   ment

Losses/
Investments ($)
Introduction Stage of the PLC


       Sales                         Low sales

       Costs                  High cost per customer

      Profits                         Negative
                             Create product awareness
 Marketing Objectives                 and trial

     Product                   Offer a basic product

       Price                       Use cost-plus

   Distribution              Build selective distribution

   Advertising          Build product awareness among early
                                adopters and dealers
Growth Stage of the PLC


        Sales                   Rapidly rising sales

        Costs               Average cost per customer

       Profits                     Rising profits

  Marketing Objectives        Maximize market share
                                   Offer product
      Product              extensions, service, warranty
        Price                Price to penetrate market

    Distribution            Build intensive distribution

    Advertising          Build awareness and interest in the
                                   mass market
Maturity Stage of the PLC


         Sales                         Peak sales

         Costs                   Low cost per customer

        Profits                       High profits

   Marketing Objectives     Maximize profit while defending
                                     market share
       Product                Diversify brand and models

         Price             Price to match or best competitors

     Distribution           Build more intensive distribution

     Advertising          Stress brand differences and benefits
Decline Stage of the PLC

         Sales                       Declining sales

         Costs                   Low cost per customer

        Profits                     Declining profits

   Marketing Objectives   Reduce expenditure and milk the brand

       Product                    Phase out weak items

         Price                          Cut price
                           Go selective: phase out unprofitable
     Distribution                         outlets
     Advertising             Reduce to level needed to retain
                               hard-core loyal customers
http://www.manishparihar.co.in/

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Product life cycle

  • 2. Product Life Cycle Sales and Profits ($) Sales Profits Time Product Introduction Growth Maturity Decline Develop- ment Losses/ Investments ($)
  • 3. Introduction Stage of the PLC Sales Low sales Costs High cost per customer Profits Negative Create product awareness Marketing Objectives and trial Product Offer a basic product Price Use cost-plus Distribution Build selective distribution Advertising Build product awareness among early adopters and dealers
  • 4. Growth Stage of the PLC Sales Rapidly rising sales Costs Average cost per customer Profits Rising profits Marketing Objectives Maximize market share Offer product Product extensions, service, warranty Price Price to penetrate market Distribution Build intensive distribution Advertising Build awareness and interest in the mass market
  • 5. Maturity Stage of the PLC Sales Peak sales Costs Low cost per customer Profits High profits Marketing Objectives Maximize profit while defending market share Product Diversify brand and models Price Price to match or best competitors Distribution Build more intensive distribution Advertising Stress brand differences and benefits
  • 6. Decline Stage of the PLC Sales Declining sales Costs Low cost per customer Profits Declining profits Marketing Objectives Reduce expenditure and milk the brand Product Phase out weak items Price Cut price Go selective: phase out unprofitable Distribution outlets Advertising Reduce to level needed to retain hard-core loyal customers