Target I can explain the characteristics of each stage of the product life cycle.

Slides:



Advertisements
Similar presentations
Amity Business School. Product Life Cycle Amity Business School Definition Product Life Cycle (PLC) deals with the life of a product in the market with.
Advertisements

Goals of the Promotional Mix. Effect on Target Market Price, Product, Place, Promotion ProductPlace Price Promotion Target Market Using the overall goals,
New-Product Development and Product Life-Cycle Strategies
Positioning and PLC. Product Differentiation Most competitive advantages lasts only a short time. Companies therefore constantly need to think up new.
Life Cycle and Portfolio Management
7-1 Ch.7:PRODUCT STRATEGY Product Classification (1 of 3) Consumer Product Classifications –Convenience Products –Shopping Products –Specialty Products.
Product Management New Products Product Life Cycle New Product Development Process Innovations and Their Diffusion.
New Product Development and Product Life-Cycle Strategies
New-Product Development & Product Life-Cycle Strategies.
Engineering for Design Product Life Cycle 2006 Greg Heitkamp This material is based upon work supported by the National Science Foundation under Grant.
Marketing mix and product concept Ing. Lukas Gottwald Dept. Of Corporate Economics
New-Product Development and Product Life-Cycle Strategies
Major Stages in New-Product Development
©2003 Prentice Hall, IncMarketing: Real People, Real Choices 3rd edition Chapter 10 Managing the Product.
The Product Lifecycle and New Product Development
MGT-519 STRATEGIC MARKETING AAMER SIDDIQI 1. LECTURE 24 2.
Chapter 30 product planning Section 30.1 Product Development
Overview of Marketing Class 23 Tuesday 11/15/11. Nature of Marketing To create value by allowing people and organizations to obtain what they need and.
MANAGING PRODUCTS THROUGH PRODUCT LIFE CYCLE
A marketing plan is a document that lists activities aimed at achieving particular marketing outcomes in relation to the product. A marketing plan is a.
Product Life-Cycle The Product Life Cycle (PLC) has Five Stages
FINAL STEPS OF NEW PRODUCT DEVELOPMENT.  Test marketing- the stage at which the product and marketing program are introduced into a more realistic marketing.
What is a Product Life Cycle?  The marketing theory that a product moves through different stages of life, from birth to death.  Every decision impacts.
Product Life Cycle. Stages Introduction Focus on promotion and production Promotion trying to get new customers Least profitable stage Establish market.
THE PRODUCT LIFE CYCLE SERM #51. Growth Maturity Decline Introduction Product Life Cycle.
Managing Risk Through Pharmaceutical Product Life Cycles Hosted and Sponsored by Novartis Institutes for Biomedical Research for HBA Boston Chapter February.
The Product Life Cycle The stages. Extension Strategies  There are many ways in which an org can prolong a product’s life cycle.  They can change the.
The Value Chain Michael Porter’s Value Chain identifies nine strategically relevant activities that create value and costs (five primary and four support.
VERTU phone Nokia – aiming at a particular segment of the market, phones range from £2,000 to £150,000. very high profit margin Hand built phones, adding.
Marketing I Curriculum Guide. Product/Service Management Standard 5.
Product Life Cycle Marketing I.
Product Characteristics Features Attractiveness Uniqueness Innovation Benefits Customer experience Customer satisfaction.
Performance Analysis Lecture by Murad Rattani Oxford College of London.
Product Life Cycle Introduction GrowthMaturity Decline Product introduced into the market. Product is enjoying success. Much of the target market knows.
Section 30.1 Product Development Chapter 30 product planning Section 30.2 Sustaining Product Sales.
Standard 5. A marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.
Low sales High cost per customer Negative or low Create product awareness & trial Offer a basic product Usually is high; use cost-plus formula High distribution.
Elements of a Marketing Plan situational analysis including SWOT and product life cycle establishing market objectives identifying target market developing.
Product Life Cycle. Product Design Product Item – specific model or size of a product Product Classification Consumer Goods – are purchased and use by.
THE PRODUCT LIFE CYLE. INTRODUCTION Product  branding and quality level is established  patents and trademarks) are made  Pricing  Low penetration.
Product Life Cycle.
MARKETING MIX. What is Marketing Mix? The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet.
Producing and Marketing Goods and Services Chapter 8.
MGT301 Principles of Marketing Lecture-22. Summary of Lecture-21.
Product Life Cycles Instructor: Safaa S. Y. Dalloul Principles of Marketing Unit 5.
Product Life Cycle. Stages Introduction Focus on promotion and production Promotion trying to get new customers Least profitable stage Establish market.
Product Life Cycle. Product life cycle Growth Introduction Decline Maturity.
Producing and Marketing Goods and Services Chapter 10
Chapter 30 product planning Section 30.1 Product Development
Understanding Product Life Cycle
MARKETING MANAGEMENT Identifying Market Segments and Selecting Target Markets, Positioning & Differentiating the Market Offering through the Product Life.
Chapter 10 Product Issues in Channel Management.
CHAPTER 10 CRAFTING THE BRAND POSITIONING
Marketing Mix – Product
New-Product Development and Life-Cycle Strategies
MGT601 SME MANAGEMENT.
Product life cycle.
Product/Service Management
Product Life Cycle Products have a limited life.
MARKETING MIX 1. PRODUCT PRODUCT LIFE CYCLE.
Crafting the Brand Positioning
Positioning and PLC.
Chapter 12 The Marketing Mix: Product
Chapter 10 Product Issues in Channel Management.
The Product Life Cycle.
Product life cycle JUNIOR CYCLE
Principles of Marketing
Product LIFE CYCLE & Positioning #2
MGT601 SME MANAGEMENT.
The Product Life Cycle SERM #51.
Presentation transcript:

Target I can explain the characteristics of each stage of the product life cycle.

Product Life Cycle

Introduction Low Sales Losses may occur Profits Few Competition

Marketing Mix Elements Branding and quality level is established. Product: Low or high Pricing: Selective until consumers show acceptance of the product. Place : Seeks to build awareness Promotion:

Growth Rapidly Rising Sales Very high profits Profits Growing Number Competition

Marketing Mix Elements Additional features/services may be added. Product: Maintained Pricing: Channels are added as demand increases. Place: Aimed at a broader audience. Promotion:

Maturity Sales Peak Sales Declining profits Profits High and stable number Competition

Marketing Mix Elements Differentiate the product from that of competitors. Product: May be lower because of the new competition. Pricing: More intensive Place: Emphasizes product differentiation. Promotion:

Decline Falling Sales Sales Profits fall, possible losses Profits Declining number Competition

Decline Strategies Maintain the product, possibly rejuvenating it by adding new features and finding new uses. Harvest the product - reduce costs and continue to offer it, possibly to a loyal niche segment. Discontinue the product, liquidating remaining inventory or selling it to another firm that is willing to continue the product.

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.