Datta Meghe Institute of Management Studies Product management & Brand Management Unit no 1 Product Life Cycle and its variants. 1

Datta Meghe Institute of Management Studies Syllabus 2 Unit I Product Life Cycle and its variants. Unit I Product Life Cycle and its variants.

Datta Meghe Institute of Management Studies Learning objectives To Understand What is a product What is Product life cycle Stages of product life cycle What are the variants of product lifecycle. To Understand What is a product What is Product life cycle Stages of product life cycle What are the variants of product lifecycle. 3

Datta Meghe Institute of Management Studies What is a product? A product is any offering by a company to a market that serves to satisfy customer needs and wants. It can be an object, service, idea,etc. A product is any offering by a company to a market that serves to satisfy customer needs and wants. It can be an object, service, idea,etc.

Datta Meghe Institute of Management Studies Product Life-Cycle Product life cycle asserts that: –Products have a limited life –Sales of the product pass through different stages –Profits rise and fall at different stages of PLC –Products require different strategies at each stage of their life cycle Product life cycle asserts that: –Products have a limited life –Sales of the product pass through different stages –Profits rise and fall at different stages of PLC –Products require different strategies at each stage of their life cycle 5

Datta Meghe Institute of Management Studies 6 Product Life-Cycle-Sales & Profit: Sales And Profit Time Sales Profit INTRODUCTIONINTRODUCTION GROWTHGROWTH MATURITYMATURITY DECLINEDECLINE

IntroductionGrowthMaturityDecline 7 Product Category Video ipodsDVDsVCDs Video Cassettes Product Form Angular Pens Gel PensBall Point Pens Ink Pens BrandsActros, MAN Volvo FM & FH Tata ACE Tata 407, Ashok Leyland Ecomet 912 DCM Toyota, Matador Examples of Product Life-Cycle:

Datta Meghe Institute of Management Studies 8 Various Product Life Cycle Patterns Example: a) b) c)

Datta Meghe Institute of Management Studies ASSIGNMENT Explain in details PLC with examples SAQs and LAQS –What are the different stages of PLS –Explain 4 stages of PLC –Define with examples Introduction stage Growth stage Maturity stage Decline stage Explain in details PLC with examples SAQs and LAQS –What are the different stages of PLS –Explain 4 stages of PLC –Define with examples Introduction stage Growth stage Maturity stage Decline stage 9

Datta Meghe Institute of Management Studies Summary A product is any offering by a company to a market that serves to satisfy customer needs and wants. Products have a limited life. Sales of the product pass through different stage. Profits rise and fall at different stages of PLC. Products require different strategies at each stage of their life cycle 10

Datta Meghe Institute of Management Studies Reference Marketing Management – Kotler, Keller, Koshy, Jha 11