Can you name products that….. Have just been introduced Have established themselves in the market Are going out of fashion?

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Presentation transcript:

Can you name products that….. Have just been introduced Have established themselves in the market Are going out of fashion?

Theme 1: Marketing & People

Product Life Cycle DevelopmentIntroductionGrowthMaturityDecline Using the above headings… draw a PLC…. TIME Sales Revenue

Product Portfolio Analysis Product Life Cycle What is the next step?

In pairs Produce a product life cycle for a product of your choice. Use the internet to see if you can find the timeline of the product. Complete the time stages that the product went through during each stage of its lifetime: 1.Development 2.Introduction 3.Growth 4.Maturity 5.Decline 6.Extension strategy If you are stuck look at some of the following: video recorders or cassettes, the Sony Walkman, vinyl singles or LPs, Playstation or any other similar type of product.

Product Life Cycle You have been given a product life cycle At each stage of the PLC, annotate with the following information : Sales Costs per unit Promotion Price Why/how do businesses use the PLC?

Product Life Cycles Sales Time Effects of Extension Strategies What happens here?

Types of extension strategies?

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