Product life cycle is the different stages of a product's life. The stages are introduction, growth, maturity and decline (QuickMBA, 2010). The marketing decisions will vary depending on which stage of the life cycle the product is in. The self-driving car will be in the introductory life cycle phase when it is launched. During this stage a number of things occur. The brand must be developed and introduced to the market. The distribution strategy must be determined. Promotion should be aimed at early adopters during this phase. In addition, the pricing structure may incorporate elements of either skimming or penetration pricing (QuickMBA, 2010).
The self-driving car is expected to move slowly through the introduction stage of the product life cycle into the growth stage. The reason the pace of this movement is expected to be slow relates to the fact that the technology is revolutionary. Consumer acceptance of the technology will…...

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Works Cited:

eHow. (2011). Product life cycle in technology. eHow Money. Retrieved April 30, 2011 from http://www.ehow.com/about_5472559_product-life-cycle-technology.html

QuickMBA. (2010). Product life cycle. QuickMBA.com. Retrieved April 30, 2011 from  http://www.quickmba.com/marketing/product/lifecycle/

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 enthusiasts using them in the 21st century in the UK and there are parts of the world for example, Eastern Europe, Africa and China where the steam locomotive is still in regular commercial use. In contrast, some women's and men's clothes come in and out of vogue with amazing alacrity.

(Proctor 22)

Decisions are very important within the guide of the product life cycle, especially when the life cycle of the product can be perceived to be rather short, especially in the…...

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Works Cited

Proctor, Tony. Strategic Marketing: An Introduction. London: Routledge, 2000.

Swann, Peter, and Jas Gill. Corporate Vision and Rapid Technological Change: The Evolution of Market Structure. New York: Routledge, 1993.

Product Life Cycle of Voice-Activated Television
As the latest innovation in television technology, the advent of voice-activated technology represents a fundamental shift in the way consumers interact with their favorite products. ather than utilize a remote control to operate a device, owners of Television Inc.'s new voice-activated TV set will be able to change channels, adjust volume settings, record their favorite programs and search for upcoming events all through the instinctual act of telling the machine what they want to see. As the forerunner within an industrywide process of progressive segmentation, Television Inc. has positioned itself to capture a dominant share of the emerging voice-activated TV market, but the company must ensure that its new product is expertly facilitated through the Product Life Cycle. According to the prevailing research on product development and marketing, a product experiences several phases during its so-called life cycle including the Introduction, Growth, Maturity and Decline…...

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References

Ostlin, J., Sundin, E., & Bjorkman, M. (2009). Product life-cycle implications for remanufacturing strategies. Journal of cleaner production, 17(11), 999-1009. Retrieved from  http://liu.diva-portal.org/smash/get/diva2:18328/FULLTEXT01 

Simon, M. (2010). Product Life Cycle Management. Longer Lasting Products: Alternatives to the Throwaway Society, 351.

This means that the company must be smart with its distribution, focusing on key retailers and channels to introduce the product to the public. There are exceptions, however. For a lot of consumer electronic products -- smartphones, for example -- companies prefer nationwide rollouts of new products through major telecom distributors. Such a strategy is often supported, however, with penetration pricing and extensive ad campaigns. For companies that cannot afford this, regional distribution or through specialty stores is often a first step during the introductory phase until some word of mouth has been built up to support the product.
Promotion is critical during the rollout phase. At this stage, most consumers are unaware that the product exists, so promotion needs to not only introduce the product, but explain where it fits into the competitive mix, its positive attributes, and convince the consumer to buy. Promotion levels can be very high…...

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Works Cited:

No author. (2012). Pricing strategies -- penetration pricing. Tutor2U.net. Retrieved February 24, 2012 from  http://tutor2u.net/business/marketing/pricing_strategy_penetration.asp 

QuickMBA. (2010). The product life cycle. QuickMBA.com. Retrieved February 24, 2012 from  http://www.quickmba.com/marketing/product/lifecycle/

Product Life Cycle Analysis
Products, like living creatures, have a specific life cycle. A product is born, it grows up, and eventually it dies. A product's birth is its creation -- the first moment that a brand new device or invention rolls off the assembly line and is made available to consumers. In the case of a color television, its life cycle would commence at the time a brand model first appears in the stores. If it is a well-designed product, and represents an improvement over previous versions, it will no doubt do well as it will appeal to consumers. The period during which a television "grow up" can be described as the interval of time between its initial appearance, and the time it takes for that product to "catch on," or establish itself. hen Sony introduces a new color television, that new television is like a newborn baby. The public…...

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Works Cited

Long, John R. "The Ant and the Grasshopper." Aesop's Fables: The Online Collection: Star Systems 30 March 2002. URL: TheAntandtheGrasshopper& & antgrass.ramhttp://www.pacificnet.net/~johnr/cgi/aesop1.cgi?1&

Phiddian, Robert. "Have you eaten yet? The reader in 'A Modest Proposal.'." Studies in English Literature, 1500-1900 36.3 (1996): 603+. Questia. 1 May 2003 .

Prince, Gerald. Narrative as Theme: Studies in French Fiction. Lincoln, NE: University of Nebraska Press, 1992.

Wyrick, Deborah Baker. Jonathan Swift and the Vested Word / . Chapel Hill, NC: University of North Carolina Press, 1988.

Product Strategy
The development of a product strategy is one of the most important components of introducing new products into the market. A product strategy is defined as a roadmap that provides an outline of the end goal of a product and what it would become upon completion. Business organizations increasingly develop and utilize product strategies because of their significance in strategic planning and marketing with regards to the achievement of desired organizational goals and objectives. The formulation of a product strategy is also critical because products and services usually undergo a life cycle of new product introduction, growth, maturity and decline. The different stages in new product introduction have considerable impacts on the marketing strategy and promotional initiatives. An example of a product strategy is the introduction of a new software product in the market.
Product Life Cycle for a Software

Marcu & Gherman (2010) define product life cycle as the period…...

In developed or developing markets, more competition will exist, decreasing demand for the company's specific product and also increasing the marketing struggle, as brand loyalties and simple recognition will be higher for companies already established in the market (Foley 2010). Beginning entry into such a market with simple exporting is advisable, as it has reduced costs and lower risks than other entry methods (provided that manufacturing in the country of entry is more costly than manufacture at existing plants) (Foley 2010). Where less competition exists, other methods of entry can be developed that confer the advantages of early entry more quickly, generally with greater upfront costs but more profit potential in the long-term, assuming the business and its marketing efforts are run properly and efficiently (Foley 2010). These markets, especially in the relatively saturated world that exists today, might have strong cultural resistances to direct investment attempts, making joint…...

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References

Foley, J. (2010). "Foreign market entry modes." Accessed 13 June 2010.  http://www.quickmba.com/strategy/global/marketentry/ 

Linkedin.com. (2010). "Jet Import." Accessed 13 June 2010.  http://www.linkedin.com/companies/jet-import 

Sharp, G. (2010). "Joint ventures." Accessed 13 June 2010.  http://www.referenceforbusiness.com/encyclopedia/Int-Jun/Joint-Ventures.html 

VBM (2010). "Product life cycle." Accessed 13 June 2010.  http://www.valuebasedmanagement.net/methods_product_life_cycle.html

Those points are inherent in the approach the company takes to integrating Computer-Aided Design (CAD) data into the broader series of systems and strategies used for constructing boats. The company is also open to taking design, boat interiors and hull style considerations from customers, consultants and dealers. This approach to capturing requirements is often called Voice of the Customer (VoC) research and is typically included as part of the Six Sigma program at manufacturers (osenbaum, Postula, 1991).
What kind of benefits are egal achieving by using CAD technology rather than traditional drafting techniques?

Using CAD technology can significantly reduce the time to transform a drawing into a prototype, drastically reducing the number of errors and also increasing the accuracy of bill-of-materials used for building the finished product (Vinodh, Kuttalingam, 2011). CAD systems can also streamline the new product introduction process, providing graphical 3D images of the boat even before it is…...

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References

Rosenbaum, Eugene S., & Postula, Frank D.. (1991). Computer-Aided Engineering Integrates Product Development. American Association of Cost Engineers. Transactions of the American Association of Cost Engineers,D3.

Chong Leng Tan, & Mark A Vonderembse. (2006). Mediating effects of computer-aided design usage: From concurrent engineering to product development performance. Journal of Operations Management, 24(5), 494.

S. Vinodh, & D. Kuttalingam. (2011). Computer-aided design and engineering as enablers of agile manufacturing. Journal of Manufacturing Technology Management, 22(3), 405-418.

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…...

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References

Alexander, S. (2015). 4K TV and Ultra HD: Everything you need to know. TechRadar. Retrieved 23 October 2015, from  http://www.techradar.com/us/news/television/ultra-hd-everything-you-need-to-know-about-4k-tv-1048954 

Fowler, G. (2015). Why 2015 Is a Good Year to Buy a TV. WSJ. Retrieved 23 October 2015, from  http://blogs.wsj.com/personal-technology/2015/01/06/why-2015-is-a-good-year-to-buy-a-tv/ 

Kokemuller, N. (2015). Longevity of Product Life Cycle. Small Business - Chron.com. Retrieved 23 October 2015, from  http://smallbusiness.chron.com/longevity-product-life-cycle-18529.html 

Kotler, P. (2013). Marketing management. Singapore: Pearson Education South Asia Pte Ltd.

1. Explain the pricing issues that concern marketers.The largest pricing issue that impacts marketers is related to competition. If marketers are marketing a product that can be easily copied or replicated, competitors can enter the market at a lower price to take market share. If this occurs, marketers must be able to position the value proposition of the product without consideration of price. Here, marketers must emphasize other features that justify the higher price point or that allows the product to simply maintain its price point. Luxury goods are typically able to do this by positioning the product as a exclusive, high-end, quality product. This ultimately allows the company to mitigate pricing pressure as consumers are attracted to the product due to its high price and exclusivity.2. Explain how price serves as a cue to quality.Price serves as a que for quality as higher priced products are often perceived as…...

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References

1. Abel, R. 1978. The role of costs and cost accounting in price determination. Management Accounting (April): 29-32.

2. Anderson, E. and D. Simester. 2003. Mind your pricing cues. Harvard Business Review (September): 96-103. (The effectiveness of sale signs, prices that end in 9, signpost items, and pricing guarantees).

Promotion and the Product Life Cycle
The Product Life Cycle

Every product goes through a lifecycle of introduction, growth, maturity and decline (Cant, Strydom & Jooste, 2006). The introduction stage entails designing, developing, and launching the product to the target market. The growth stage is characterised by a rapid increase in sales and market share. At the maturity stage, the growth of sales starts to slow down. The slowdown may deteriorate, causing sales to decline. The product life cycle has important implications for marketing (Cant, Strydom & Jooste, 2006). Each stage often calls for a different marketing strategy. At the introduction stage, attention is paid to creating awareness and developing the market. The focus of marketing shifts at the growth stage, with attention being paid to creating brand preference and growing market share. This can be achieved by maintaining product quality and price, adding distribution channels, targeting a broader audience, and so…...

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References

Ang, L. (2014). Integrated marketing communications. Cambridge: Cambridge University Press.

Cant, M., Strydom, M., & Jooste, C. (2006). Marketing management. 5th ed. Cape Town: Juta & Co. Ltd.

Vashisht, K. (2005). A practical approach to marketing management. New Delhi: Atlantic Publishers.

PLC
Product Life Cycle

When we talk about the strongest multinational companies of the world then Nestle is definitely one of the names that triggers in everyone's mind. Nestle is the world's No.1 food manufacturing company. Nestle is a Swiss multinational company whose product are available almost in every part of the world. Most of the Nestle products are in a market leading position. Nestle company was established in 1866 and since that day, it has proved itself as one the leading companies of the world with its improved quality, innovative ideas of marketing and attractive packaging (Nestle, 2007).

Nestle launched its first juice in 1996 and since then it has spread its product largely. The consumers' response to the flavored juices of the Nestle Company was upbeat. This further strengthened the position of the Nestle Company in the market as the unbeatable leader. Later on, the company innovate the product with the…...

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References

Franzen, G., & Moriarty, S. (2009). The Science and Art of Branding. Armonk, N.Y.: M.E. Sharpe.

Jennings, M.M. (2012). Business: Its Legal, Ethical, and Global Environment. Mason, OH: South-Western Cengage Learning.

Morschett, D., Schramm-Klein, H., & Zentes, J. (2009). Strategic International Management. Wiesbaden: Betriebswirtschaftlicher Verlag Gabler.

Nestle, M. (2007). Food Politics: How the Food Industry Influences Nutrition and Health. Berkeley, Calif. [u.a.]: Univ. Of California Press.

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.
orks 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. Retrieved 22 Jan 2005 at http://www.crestor.com/c/crestor/

Crestor. (2004) "Side Effects: Crestor." Official site. Retrieved 22 Jan 2005 at http://www.crestor.com/c/crestor/sideeffects.asp

Drugrecall.com. (2004) "FDA says Crestor ads are false and misleading." Retrieved 22 Jan 2005 at http://www.adrugrecall.com/news/crestor-safety.html

Marketing teacher. (2004) "Pricing." Retrieved 22 Jan 2005 at http://www.marketingteacher.com/Lessons/lesson_pricing.htm

Marketing teacher." Product Life Cycle." Retrieved 22 Jan 2005 at http://www.marketingteacher.com/Lessons/lesson_plc.

Marketing teacher. (2004) "Value Chain." Retrieved 22 Jan 2005 at http://www.marketingteacher.com/Lessons/lesson_generic_strategies.htm...

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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. Retrieved 22 Jan 2005 at  http://www.crestor.com/c/crestor/ 

Crestor. (2004) "Side Effects: Crestor." Official site. Retrieved 22 Jan 2005 at

The strategy would prove successful in assisting the rapid proliferation of the Norton Antivirus packages. Accordingly, ikipedia (2010) reports that "Norton AntiVirus and Norton Internet Security, a related product, held a 61% U.S. retail market share for security suites as of the first half of 2007." (ikipedia, 1) In addition to casting a dominant shadow over its sector of the technology industry, this would make Symantec a leading developer of antivirus technologies.
Maturity:

The maturation of Norton Antivirus is marked both by the annual or multi-annual release of newer or more refined versions of its software. A constant research and development phase is required so that Norton can remain abreast of advances amongst hackers and developers of malware, spyware and viruses. This is demonstrated by continual re-release of the Norton packages. According to available research, "Existing users of the 2006, 2007, 2008 and 2009 versions can upgrade to the latest 2010…...

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Works Cited:

Fisher, L.M. (1990). Company News; Symantec to Acquire Peter Norton. The New York Times.

NetMBA. (2007). The Product Life Cycle. Business Knowledge Center. Online at  http://www.netmba.com/marketing/product/lifecycle/ 

Wikipedia. (2010). Norton Antivirus. Wikimedia, Ltd. Inc.

VIRTUAL TEAMS 4

Virtual Teams
The use of virtual teams has grown more and more with each recent passing year. Even so, there has been some companies that have pushed back on the use of virtual employees in the name of maximizing output and productivity. There is a great amount of debate as to whether localized or remote teams are more feasible or workable. Regardless, there is a lot of theory behind how to do virtual teams the right way. This is precisely what Hertel and the other two authors are describing in their review of the current empirical research. They describe a series of phases and steps that are integral to the process. While the parallels are not complete and definitive, assembling and disassembling a team is much like the product life cycle and project management steps.
Article Summary
As is mentioned in the introduction of this report, there are a number of…...

One weakness of the product life cycle is that it isn\'t set up for innovation. If your product doesn\'t operate for a full life cycle, you\'ll have to replace it over and over. That can be more costly than keeping the product for a long time and then only replacing it when a newer, better model comes along. Another weakness is predictability. That becomes dangerous, because competitors know what each company or individual in competition with them is likely doing. In order to break that knowledge and change the market, a company has to create something completely new and unexpected....

There are several ways that a company can effectively determine which stage of the product life cycle their product is in. Some of the common methods include:

1. Sales and revenue data: Analyzing sales and revenue data can provide valuable insights into the current demand for the product. Typically, products in the introduction stage will have slower sales and revenue growth, while products in the maturity or decline stage will show signs of stagnation or decline.

2. Market research: Conducting market research, such as surveys or focus groups, can help companies understand customer preferences, attitudes, and behaviors towards the product. This information....

Identifying the Product Life Cycle Stage: A Comprehensive Framework

Understanding the product life cycle (PLC) is crucial for businesses to make informed decisions regarding product development, pricing, marketing, and resource allocation. Each stage of the PLC presents unique opportunities and challenges, and companies must adeptly determine their product's position within this cycle to effectively manage its trajectory.

Key Indicators for Determining the PLC Stage

1. Sales Growth:

Introduction: Slow initial sales due to low market awareness.
Growth: Rapid sales growth as product gains traction and expands market share.
Maturity: Sales plateau as the market reaches saturation.
Decline: Sales decline as the product loses....