Life Cycle

Topics: IPhone, Marketing, Product life cycle management Pages: 4 (1337 words) Published: November 17, 2012
Many products and services often pass a life cycle while there are many shapes depending on their industries. They newly emerge in the society, start to sell to be widespread, become saturated in the market and then gradually get out of date. This sequence of product and service is called the product life cycle. Smartphone also passes such natural path. According to the next web (2011), first smartphone brand was Ericsso’s GS88 in 1997. A touchscreen smartphone, which is widespread now, was launched by Apple a decade after the first smartphone brand was launched (ibid). The iPhone was the smartphone which a consumer would really desire at that time (ibid). There was a big difference between old smartphone and a touch-panel smartphone such as iPhone. Therefore, new product life cycle may be considered to start since iPhone emerged. In theory, the product cycle is divided into five stages: development, introduction, growth, maturity and decline (Lee and Carter, 2012 and Gerry et al, 2010). In development term, a new product concept, which is different from ones in the market, is developed (ibid). In introduction phase, a new product is launched with large cost on advertisement yet its return is quite small. In growth stage, its quality is improved and booming the product and attracted buyers by it lead to its increasing sales while competition is increasing (ibid). In maturity period, its sales are the highest however its sales growth rate is decreasing. And also its marketplace becomes saturation and more competitive and then consumers purchasing power become stronger (ibid). In decline stage, its sales began to fall and also its price decrease to be very competitive (ibid). The smartphone would be between growth stage and maturity stage nowadays because the sales amount of touchscreen smartphone increase. For example, iPhone’s sales as of 3nd quarter in 2012 went up by around 30% over 3rd quarter in 2011 (knowyourcell, 2012). Galaxy’s sales are also in...

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