Product Life-Cycle Model Essay -- essays research papers

OverviewThe intersection can be specify as goods, services or both in the other wrangling its anything that satisfies customer need. Each harvest-feast has its own limited life, even it shares the same aspect and we define the period that the product goes through as the Product life cycle. The Product life cycle rest of four stages starting from introduction stage, growth stage, adulthood stage and crepuscle stage. At the introduction stage, the product is not popular and cant really make a lot of bring in. Its commercialiseing cost whitethorn be high in order to test a market and set up a distribution channel. At the growth stage, the product start making a profit, the sales increase rapidly with virtually cost on marketing especially brand building. Competitors enter the market, a lot in large number depending on how attractive the market is. When a profit starts to decline, its the sign of Maturity stage. At maturity stage, the sales continue to increase but at the dec reasing evaluate until become stable, because of price competition. The product reaches its peak at this stage, around companies iron aggressively to maintain their market share. The competition is very intense, unfortunately a small firms will die one by one. During the decline stage, the profit start to drop gradually, each firm has to manage carefully. Therere not many choice to choose now take the most out of it before exit or expand the market by using marketing mix strategies in order to extend product life.Can product life...