+ Product Life Cycle Stage 6 Business Studies Marketing Ms Giveen 2010.

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Presentation transcript:

+ Product Life Cycle Stage 6 Business Studies Marketing Ms Giveen 2010

+ 4 Stages Introduction, Growth Maturity Decline.

+ Introduction Until people get to know the product, sales will grow slowly. Heavy promotion and the costs of development often mean negative profits. Higher prices can be charged until competitors enter the market.

+ Growth The heavy promotion pays off and sales grow rapidly. It is very profitable because prices are high. The profits attract competitors.

+ Maturity Sales level off. Only occasional advertising is needed to promote the product. A typical example is a product such as Weet-Bix.

+ Decline Sales are falling and there is little purpose in fighting the trend. Heavy discounting is used to get rid of stock.

+ How does this apply to your assignment? 1. Decide if you want to stay in the same business. Do you want to keep family portraits? 2. If yes – then decide how to refresh and move back a stage 3. If no – then decide what entry point you are going to come into the market on

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