The document discusses managing a product through its life cycle stages to maximize sales and profits. It notes that key business areas like development, financing, marketing, manufacturing, and information need focus. Stages include introduction, growth, maturity, and decline, with strategies adapted for each, and financing required through maturity. Manufacturing costs may fall as production increases and more efficient methods are adopted. Information is also crucial for success.

1. ProductLifeCycleStages.com

2.  The application of different strategies to meet
challenges of four product life cycle stages
 Ensure that the manufacturer can maximize
sales and profits
ProductLifeCycleStages.com

3.  To manage the product life cycle, need to
focus on key business areas:
◦ Development
◦ Financing
◦ Marketing
◦ Manufacturing
◦ Information
ProductLifeCycleStages.com

4.  First and important phases of the
manufacturing process
 Need to spend time and money
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ProductLifeCycleStages.com

5.  Funds to launch a new product and sustain it
through the Introduction stage
 Further investment through the Growth and
Maturity stages
 Adapt the manufacturing
process in the Decline Stage
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ProductLifeCycleStages.com

6.  Adapt the marketing and promotional
activity, depending on stage of product life
cycle
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ProductLifeCycleStages.com

7.  Manufacturing cost may change during its life
cycle:
◦ New processes and equipment: high cost
◦ Market develops and
production increases:
cost start to fall
◦ Efficient and cheaper
methods of production:
costs fall further
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ProductLifeCycleStages.com

8.  Information is crucial to the success of any
product
◦ Potential market data
◦ Feedback about different
marketing campaigns
◦ Monitoring the growth
and decline of the market
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ProductLifeCycleStages.com

9. www.ProductLifeCycleStages.com