Download Product Life Cycle

yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project

Document related concepts

Multicultural marketing wikipedia , lookup

Marketing plan wikipedia , lookup

Multi-level marketing wikipedia , lookup

Green marketing wikipedia , lookup

Marketing wikipedia , lookup

Food marketing wikipedia , lookup

Integrated marketing communications wikipedia , lookup

Market penetration wikipedia , lookup

Perfect competition wikipedia , lookup

Planned obsolescence wikipedia , lookup

First-mover advantage wikipedia , lookup

Advertising campaign wikipedia , lookup

Global marketing wikipedia , lookup

Marketing mix modeling wikipedia , lookup

Marketing channel wikipedia , lookup

Pricing strategies wikipedia , lookup

Product placement wikipedia , lookup

Sales process engineering wikipedia , lookup

Marketing strategy wikipedia , lookup

Product lifecycle wikipedia , lookup

Predictive engineering analytics wikipedia , lookup

Product planning wikipedia , lookup

The Product Life Cycle
• A series of stages in which a product’s sales revenues and
profits increase, reach a peak, then decline
– Introduction
• Customer awareness and acceptance are low
– Growth
• Sales increase rapidly as the product becomes well known
– Maturity
• Sales are still increasing but at a slower rate; later in this stage,
sales and profits begin to slowly decline
– Decline stage
• Sales volume decreases sharply and profits continue to fall
Copyright © Cengage Learning. All rights reserved
13 | 1
Product Life Cycle
Source: William M. Pride and O. C. Ferrell, Marketing: Concepts and Strategies, 15th ed. (Mason, Ohio: SouthWestern/Cengage Learning, 2010). Adapted with permission.
Copyright © Cengage Learning. All rights reserved
13 | 2
Using the Product Life Cycle
• Marketers should be aware of the life-cycle stage
of each product for which they are responsible
and should try to estimate how long the product is
expected to remain in that stage
– Both must be taken into account in making decisions
about the marketing strategy for a product
Copyright © Cengage Learning. All rights reserved
13 | 3