1. Prepared by ms. dale 4.4 Product Life Cycle
BMI3C
Prepared by ms. dale
4.4 Product Life Cycle

2. Lesson Objectives
To create a model of the product life cycle and label each stage of a products life
To describe the difference between traditional and non- traditional product life cycles
To identify and explain fads, trends, niches, and seasonal product life cycles
To apply knowledge of product life cycles to real world examples
28 February 2019

3. CIE 3M
28/02/2019
Product Life Cycles
In your notes, list as many things you think is a human NEED:
We will now watch a video of an experiment conducted by Harry Harlow and Rhesus monkeys to show that we also have other needs.
28 February 2019

4. CIE 3M
28/02/2019
Product Life Cycles
Identify the difference between a human NEED and a WANT, using examples, in your notes:
What factors can affect customer demand?
28 February 2019

5. CIE 3M
28/02/2019
Product Life Cycles
Here are a list of products. How should we organize them?
Coke
Samsung Galaxy s6
VHS
Hummer H3
Apple Watch
28 February 2019

6. CIE 3M
28/02/2019
Product Life Cycles
Most products go through a _____________ product life cycle – moving from introduction through to growth, maturity, decline, and finally the decision point stages.
28 February 2019

7. Product Life Cycles ________________ STAGE:
CIE 3M
28/02/2019
Product Life Cycles
________________ STAGE:
The launch of a new product
into the market place
Expenses to the manufacturer are __________
Ex – production, design, advertising, sampling, inventory supply.
Marketers rely on ________________ consumers to buy the product and set the trend
The price of the product is usually during this stage.
28 February 2019

8. Product Life Cycles _________________ STAGE:
CIE 3M
28/02/2019
Product Life Cycles
_________________ STAGE:
The product’s reputation is spread through __________________ and advertising
In this the stage the product will either catch on or fail  ______ = if a product is taken off the market before it has recovered its costs
Competitors enter the market, therefore the price of the product
28 February 2019

9. Product Life Cycles ______________STAGE: Sales of the product increase
CIE 3M
28/02/2019
Product Life Cycles
______________STAGE:
Sales of the product increase
only __________ or not at all
_______________ will highlight the longevity and quality of the product
Profits are ________ as product development and research costs have been covered
28 February 2019

10. Product Life Cycles _____________STAGE:
CIE 3M
28/02/2019
Product Life Cycles
_____________STAGE:
Demand _________ profits __________
__________________ STAGE:
Companies turn to changes in price, new advertising, reformulating, redesigning, or repackaging
If these solutions do not work the product may have to be ____________ from the market
28 February 2019

11. CIE 3M
28/02/2019
Product Life Cycles
Now try to organize these products applying what you have learned.
28 February 2019

12. Non-Traditional PLCs Review:
CIE 3M
28/02/2019
Non-Traditional PLCs
Review:
List the stages of the Product Life Cycle:
We will now explore nontraditional product life cycles to see that not every good or service follows the same life cycle as mainstream products.
28 February 2019

13. What happened to these products you listed?
CIE 3M
28/02/2019
Non-Traditional PLCs
Watch the following video and try to list as many products as you can from the images flashing across the screen.
What happened to these products you listed?
Inset Video Clip
28 February 2019

14. Non-Traditional PLCs ____________ A product that is extremely
CIE 3M
28/02/2019
Non-Traditional PLCs
____________
A product that is extremely
popular for a very ________________
It becomes unpopular just as quickly as it became popular
Fads are _____________, therefore it is a ________________investment
Timing is everything: Businesses can make a lot of money or lose everything
28 February 2019

15. Non-Traditional PLCs ______________ lasts __________ than fads
CIE 3M
28/02/2019
Non-Traditional PLCs
______________
lasts __________ than fads
mass movement of the marketplace toward a particular value
by identifying trends, marketers can predict likely market opportunities
this gives time to develop products in time to get them to the market (_____________ ____________________________)
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16. Non-Traditional PLCs ___________ MARKETS:
CIE 3M
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Non-Traditional PLCs
___________ MARKETS:
Products that have a _____ growth
stage that leads to a solid _________stage
Financial gain is not spectacular but sales are _______________
Niche market = small market share BUT there is little ______________
Dominates a small section of the market – not popular amongst everyone BUT caters to a small group
28 February 2019

17. Non-Traditional PLCs Respond in your notes:
CIE 3M
28/02/2019
Non-Traditional PLCs
Respond in your notes:
Why should you bother to establish a niche market?
How can a business be successful in a niche market?
28 February 2019

18. Non-Traditional PLCs ________________Products
CIE 3M
Non-Traditional PLCs
28/02/2019
________________Products
Goods and services that are only sold during certain times of the year, or demand for the product goes up or down during different times of the year
List as many seasonal products as you can
28 February 2019

19. CIE 3M
28/02/2019
Non-Traditional PLCs
28 February 2019

20. CIE 3M
28/02/2019
Non-Traditional PLCs
Complete the following as completely as possible.
1. Explain the difference between a fad and a trend, use examples to illustrate .
2. Create a profile of a current market trend. Include the names of specific products that are part of this trend. (Simply searching for “trends” can help you in your research and profile).
28 February 2019

21. CIE 3M
28/02/2019
Non-Traditional PLCs
ASSIGNMENT ASOS is a United Kingdom based online fashion store. Your expected to complete the Case Study and submit on the specified due date.
28 February 2019

22. Review Complete worksheet page 23 Complete ASOS Case Study Fads Trends
Key Points from Lesson
Homework / Assignment
Product Life Cycles
Intro
Growth
Maturity
Decline
Decision Point
Fads
Trends
Niches
Seasonal
How Non-Traditional Life Cycles appear on a chart
Complete worksheet page 23
Complete ASOS Case Study
28 February 2019