Product Life Cycle The stages through which a product passes from its development to being withdrawn from sale.

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Presentation transcript:

Product Life Cycle The stages through which a product passes from its development to being withdrawn from sale

Sales over time Sales revenue Time Introduction/ Launch Growth Maturity Decline Saturation Development

Factors affecting the length of the lifecycle Fashion Technological change Ability of company to devise appropriate strategies for extension Competitiveness of the market

Sales over time Sales revenue, cash flow Time Introduction Growth Maturity Decline Product development Sales Cash flow Saturation

Extension strategies Sales revenue Time Introduction Growth Maturity Decline

Extension strategies – ways in which a business seeks to maintain or raise sales over a longer period by….. Attracting new market segments Increasing usage Modifying the product Changing the image Targeting new markets

Product life cycle activity Choose one of the following products:  Yorkie bar  Ipod  Marmite  PJ Smoothies  BMX bikes Suggest and explain 3 extension strategies Which one would you select? Why?

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