product life cycle aman
TRANSCRIPT
![Page 1: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/1.jpg)
JAIPUR NATIONAL
UNIVERSITY
![Page 2: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/2.jpg)
MASTER IN BUSINESS
ADMINISTRATION (MBA) With
Dual Specialization
![Page 3: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/3.jpg)
Product Life-Cycle Strategies
![Page 4: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/4.jpg)
Product Life-Cycle Strategies
The Product Life Cycle (PLC) has Five StagesProduct Development, Introduction,
Growth, Maturity, DeclineNot all products follow this cycle:
Fads Styles Fashions
Goal 1: Know the stages of the product life cycle process
![Page 5: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/5.jpg)
Product Life-Cycle Strategies
The product life cycle concept can be applied to a:Product class (soft drinks)Product form (diet colas)Brand (Diet Dr. Pepper)
Using the PLC to forecast brand performance or to develop marketing strategies is problematic
Goal 1: Know the stages of the product life cycle process
![Page 6: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/6.jpg)
Product Life-Cycle Strategies
Product development
IntroductionGrowthMaturityDecline
Begins when the company develops a new-product idea
Sales are zeroInvestment costs
are highProfits are negative
PLC Stages
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 7: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/7.jpg)
Product Life-Cycle Strategies
Product development
IntroductionGrowthMaturityDecline
Low salesHigh cost per
customer acquiredNegative profitsInnovators are
targetedLittle competition
PLC Stages
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 8: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/8.jpg)
Marketing Strategies: Introduction Stage
Product – Offer a basic productPrice – Use cost-plus basis to setDistribution – Build selective
distributionAdvertising – Build awareness among
early adopters and dealers/resellersSales Promotion – Heavy expenditures
to create trial
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 9: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/9.jpg)
Product Life-Cycle Strategies
Product development
IntroductionGrowthMaturityDecline
Rapidly rising salesAverage cost per
customerRising profitsEarly adopters are
targetedGrowing
competition
PLC Stages
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 10: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/10.jpg)
Marketing Strategies: Growth Stage
Product – Offer product extensions, service, warranty
Price – Penetration pricingDistribution – Build intensive
distributionAdvertising – Build awareness and
interest in the mass marketSales Promotion – Reduce expenditures
to take advantage of consumer demand
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 11: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/11.jpg)
Product Life-Cycle Strategies
Product development
IntroductionGrowthMaturityDecline
Sales peakLow cost per
customerHigh profitsMiddle majority are
targetedCompetition begins
to decline
PLC Stages
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 12: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/12.jpg)
Marketing Strategies: Maturity Stage
Product – Diversify brand and modelsPrice – Set to match or beat
competitionDistribution – Build more intensive
distributionAdvertising – Stress brand differences
and benefitsSales Promotion – Increase to
encourage brand switching
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 13: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/13.jpg)
Product Life-Cycle Strategies
Product development
IntroductionGrowthMaturityDecline
Declining salesLow cost per
customerDeclining profitsLaggards are
targetedDeclining
competition
PLC Stages
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 14: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/14.jpg)
Marketing Strategies: Decline Stage
Product – Phase out weak itemsPrice – Cut priceDistribution – Use selective
distribution: phase out unprofitable outlets
Advertising – Reduce to level needed to retain hard-core loyalists
Sales Promotion – Reduce to minimal level
Goal 2: Realize how marketing strategies change during the product life cycle
![Page 15: product life cycle Aman](https://reader035.vdocuments.net/reader035/viewer/2022062320/55c113bebb61eb71188b4823/html5/thumbnails/15.jpg)
SUBMITTED BY:
Aman Maloo.MBA(D)-I
THANK-YOU