PRODUCT LIFE CYCLE: Group Members: Mustaqeem Arif M.Faizan Ahmed Teacher: Nadir Ali Kolachi TABLE OF CONTENTS 1. Introduction of Product Life Cycle 2. Stages of Product Life Cycle • • • • • Product Development Introduction Stage Growth Stage Maturity Stage Decline Stage 3. Changing the Marketing Mix • • • Premium and Gifts Coupon Entertaining Advertising 4. Analysis of Product Life Cycle Model 5. Strategies of Product Life Cycle 6. Product Life Cycle Phases 7. Some Other Examples
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The Product Life Cycle of Black Barrel Cheese Definition of Product Life Cycle The period of time over which one item is developed‚ brought to market and eventually from the market. First‚ the idea for the product undergoes for research and development. If the idea is determined to be feasible and potentially possible the product will be produced and marketed and rolled out. Assuming the product becomes successful; its production will grow until the product becomes widely available. Eventually‚
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PRODUCT LIFE CYCLE CONCEPT OF PRODUCTS LIFECYCLE (ELEMENTARY KNOWLEDGE) Product Life Cycle Definition by Philip Kotler: "An attempt to recognise distinct stages in the sales history of the product " PLC concept implies: Products have a limited life. Product sales pass through distinct stages with each stage posing Challenges/Opportunities/ Problems. Profits rise/fall during different stages of product life cycle. Products require different marketing/manufacturing./ finance/ purchase/ HR
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Product Life Cycle (PLC) Introduction Today`s business world recognizes the importance of strategy and strategic management. Normally any strategic process has three distinct stages which are analysis‚ formulation of plans and implementation‚ a strategy is significantly influenced by environmental change. In this study the focus is formulating strategy and fit this on the Product life cycle (PLC) phases to advance successfully in market competition. Managers need to formulate a marketing strategy
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A product life cycle is comprised if the combined demand over an extended period of time for all brands including a product category. A product life cycle is composed of four different stages each with its own properties and characteristics. The four stages that compose the cycle are introduction‚ growth‚ maturity and decline. In the introduction stage‚ also known as the pioneer stage‚ a product is first launched into the market in a full-scale marketing programme. The marketing programme’s main
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Every new product right from its entrance in the market until its elimination from the market goes through a certain sequence of stages known as Product Life Cycle. It is a sequential stage and its length varies from one product to the next. the main stages of the product life cycle are: development‚ introduction‚ growth‚ maturity and decline stage. 1. Development Stage It is the first stage of product life cycle. It is an important stage that is almost ignored by the traditional financial
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Product Life Cycle Introduction: This paper aims at analysing the usefulness of the Product Life Cycle (PLC) concept to the marketers. It will describe the different stages of the PLC concept and their respective implications on the marketing mix and the strategies which can be adopted during the different phases. Every new product right from its entrance in the market till its elimination from the market goes through a certain sequence of stages known as Product Life Cycle. There are four stages
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behaviour -Advertisement 4. Definition of product life cycle 5. Stagers of product life cycle How marketing manager used it as a planning tool 7. Conclusion Introduction This report is presented by one of the marketing experts highlighting all the arears covered in the presentation. We where presenting mostly on the benefit of marketing‚ the disadvantages and the advantages‚ product life cycle‚ evaluating on the stages and how it can be used
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Product Life Cycle Products play an essential part in our lives. Products are divided by their tangible and intangible attributes which is offered by the wholesaler to end consumers (Business dictionary). Throughout our lives‚ products play a key role in satisfying not only the needs and but also the desires of consumers. Today‚ we are living in a world that has a wide variety of products ranging from the basic needs of life such as food‚ clothes and household appliances to luxury items such
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are the Product Life Cycle (PLC) Stages used for? It helps to predict the profit levels and tailoring marketing programs according to the demand‚ your product development stage‚ current profits and level of investments and your changing customers’ needs. The Product Life Cycle (PLC) is one of the Products Portfolio Analysis and Planning Tools. What are the Product Life Cycle Stages? There are four different stages of any product from its development stage (prototype) till the product withdrawn
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