The%20Product%20Lifecycle

1
The Product Lifecycle

• Most products and services pass through various
  stages over time. These stages make up a life
  cycle.
• Although the rates of change, and the length and
  intensity of each stage may vary, most life
  cycles follow roughly the same pattern.
• In the introductory stages the focus is on the
  product. Later, the focus changes to promotion
  and price.
• Why do marketers need to know the product
  lifecycle?

2
Product Introduction

• Often called a Launch
• Consumers uninformed
• Business info
• Product features
• Availability
• Design
• Brand Identification
• 1st Consumers early adopters (trendsetters)
• Different products require unique introductory

Intro
3
Growth Stage

• Followers to early
• adopters help drive
• increased sales.
• Competition is
• attracted.
• Product or service
• is managed carefully
• Wide advertising distribution is common

Growth
4
Maturity

• Flat growth
• No increase/decrease
• in sales
• New consumers
• replace those drawn
• to competitors
• Advertising keeps
• public aware
• Cash Cows (no development costs)

maturity
5
Decline

• Sales decreasing as
• customers move to
• new products
• Permanent
• phenomenon
• Can be averted or
• delayed by advertising

decline
6
Decision Point

• Final stage in product life cycle
• Brand Management
• decision point !!
• Reformulate
• / Repackage
• New Improved
• New promotion repricing
• GO or NO-GO

Decision point
7
Non Traditional Product Life Cycles
Fad
Niche
Seasonal