1. Product Life Cycle
Marketing 1

2. Product Life Cycle
The product life cycle represents the stages that a product goes through during its life.
Marketers must adjust their product mix and their marketing strategies to ensure continued sales.

4. Product Life Cycle Stage 1: Introduction Promote consumer awareness
Educate, Inform and encourage customers to try the new product
Usually no or low profit
Stage 2:  Growth
Sales start to grow rapidly
Competitors enter the marketplace
Persuasive advertising may be used
Prices may be reduced

5. Product Life Cycle Stage 3: Maturity Stage
Sales slow down, Profits may start to fall
Advertising costs at its highest to sustain growth
Repeat customers may try a new product and stop buying
New buyers may be difficult to attract
Stage 4:  Decline
Sales are steadily decreasing
Product loses appeal
Advertising is reduced
Production may be stopped, decisions made to delete or keep the product with little or no marketing support

6. Product Life Cycle
The product life cycle of a Barbie Doll Evolution of Coca Cola Evolution of Nike

7. Product Examples 1994 – Sony Playstation –
Sony created a pure gaming system with PlayStation.
The CD-ROM format let Sony sell PlayStation as an upscale piece of technology perfect for the college dorm room.
By making games for adults, PlayStation helped the game industry balloon even larger.
It was the first gaming platform to sell over 100 million units

8. Product Examples 1998 – MP3 Player
Three years before Apple dominated the market with the iPod, SaeHan Information Systems introduced the MPMan in 1998
It had 64 MB of memory, enough for a whopping 18 songs. About 1 and a half albums.
MP – stands for-MPEG – Motion Picture Experts Group
3 Stands for: Audio Layer 3. An audio compression format which compresses the sound to around 1/12 the original size of it's original format. 

9. Product life cycle video Project
Work with a partner
Identify a product older than 1999
Take product through each stage of life cycle
Create PLC video for your product using iPad (use Barbie video & other YouTube videos as samples)
Save/Download movie to iPad (see Mrs. Sterling next door for HELP)
Submit video via or SHARE with