Wednesday, February 13, 2019

Product Life-Cycle Model Essay -- essays research papers

OverviewThe product can be defined as goods, services or both in the other words its anything that satisfies customer need. Each product has its own limited life, however it shares the alike aspect and we define the period that the product goes through as the produce life cycle. The Product life cycle consist of iv stages pioneering from introduction stage, growth stage, maturity stage and decline stage. At the introduction stage, the product is non popular and cant in reality make a lot of mesh. Its marketing personify may be high in order to test a market and compensate up a distribution channel. At the growth stage, the product detonate making a profit, the gross revenue increase rapidly with some cost on marketing especially brand building. Competitors enter the market, often in large number depending on how attractive the market is. When a profit starts to decline, its the sign of Maturity stage. At maturity stage, the sales continue to increase but at the decreasing rate until pay back stable, because of price competition. The product reaches its peak at this stage, most companies fight acutely to maintain their market share. The competition is very intense, unfortunately a miniature firms will die one by one. During the decline stage, the profit start to drop gradually, each firm has to manage carefully. Therere not many choice to choose now take the most unwrap of it before exit or expand the market by using marketing mix strategies in order to extend product life. shadow product life...

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