Product Life Cycle
No matter the product, every product goes through what is known as the product life cycle. The stage of the cycle that a product is in dictates how much of a focus the product gets and what will happen going forward in terms of that product being added to, updated or even entirely replaced. The author of this report will speak of a fictional company with a fictional product. The marketing and business strategies for each stage of the product life cycle will be assessed. The organization itself will be assessed as well. While the length, depth and breadth of the product life cycle will vary a bit from product to product and from company to company, every company needs to know where their products are in the cycle and react accordingly.
Analysis
The fictional company that will be covered in this report is in the consumer electronics part of industry and has several products. Each of the products are in a different stage of the product life cycle and thus how they are treated and planned for should vary (Kotler, 2013). This report shall cover the products one-by-one and each product will be labeled based on where in the product life cycle that it happens to be. The products will be compared to real products in the consumer electronics or other spheres so as to show real-world examples. This will help provide a proper overall perspective. The four stages in the product life cycle are introduction, growth, maturity and decline. Stated another way, the product is newly introduce,...
The manager's understanding of the product nature as well as its place on the cycle are essential to a complete understanding of the need to act or not act. Product life cycles can vary considerably in terms of length. The steam locomotive made its debut in the early 19th century and disappeared from regular service in the UK towards the end of the 1960s. One can still, of course, find
Other rivals will have a more secure market share as well, and new drugs may develop. However, although the rise may not be as astronomical, hopefully from AstraZenica's perspective, Crestor's next phasing into the 'decline' phase of the product life cycle will not be as impressive, either. Works Cited CNN. Com. (18 Nov 2004) "Merck, FDA grilled at Senate hearing." Retrieved 22 Jan 2005 at http://cnnmoney.printthis.clickability.com/pt/cpt?action=cpt&title=Merck%2C+FDA+grilled+at+Senate+hearing+over+Vioxx+-+Nov.+18%2C+2004&expire=&urlID=12326029&fb=Y&url=http%3A%2F%2Fmoney.cnn.com%2F2004%2F11%2F18%2Fnews%2Ffortune500%2Fmerck%2Findex.htm%3Fcnn Crestor. (2004) "About Crestor." Official site.
Much of the promotional campaigns throughout the introduction and growth periods were centered on this facility. According to different sources, the purpose of the promotion element was to promote "revolutionary communications and audio/visual experience" as an integrated experience. This would be the fundamental message in the introduction and growth promotions and the explanation for this is simple, being connected with something mentioned in the introduction: besides exceptional individual features, such
Software Development Life Cycle Social Media Software Implementation Project Social media is an important aspect of every business today because it gives companies a unique chance to understand the customers better and to interact with them at a more personal level. A wide range of social networking tools are used by companies to attract customers to the products and services offered by the company and this makes social media software implementation essential
Systems Life Cycle and Database Systems Including > Define systems, including why systems have a beginning and end. > Discuss the importance of integrating a life cycle into the plan for development of a database > Consider your organization or a business with which you are familiar. Provide examples of the database system it uses, its systems life cycle and how they are related. Is this effective? Why or why not? > If
Software Development Life Cycle Scrum There are many approaches to software development. One agile approach is called Scrum which is a framework of software development. The method can be used for software development or application development. With increased dependency on technology, a demand for faster and dependable systems arose across all industries in the economy. In 1986, two individuals Hirotaka and Nonaka approached such a system and called is rugby or holistic
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