Product Life Cycle

Solution

Product Life Cycle

Market Analysis

Marketing Strategies

Import & Export problems

Stage of PLC

Introduction

Growth

Maturity

Decline

Product

and

Service

Life

Cycle

(diagram)

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Marketing Objective	Gain Awareness	Stress Differentiation	Maintain Loyalty	Harvest Contract,delete
Competition	None	Growing	Many	Reduced
Product, Service	One / A few	More versions	Full product line	Best sellers
Price	Skimming or penetration	Gain share deal	Defend share profit	Stay profitable
Place	Limited	More outlets	Maximum outlets	Fewer outlets
Promotion	Inform, educate	Stress competitive differences	Reminder oriented	Minimal promotion
Promotional activity	Publicity in magazines, news papers, TV, Internet Advertising sales force calling on intermediaries Sales promotion in form of free samples	Personal selling to intermediaries Advertising to differentiate attributes from those of competing brands	Reminder advertising Sales promotion in form of discounts and coupons *Limited personal selling	*Little money spent on sales promotion
Market Analysis	Products offered are innovative with high risk, suggesting a temporary organization structure, such as a venture team which can respond quickly to market behavior	Products have accelerating demand which attracts competitors because of high profit potential, requiring a highly effective organization, such as a market-oriented matrix type which can build a strong competitive position	Products have levelling demand and competition has minimized the profit potential, requiring highly efficient organization, such as functional pyramid type to maximize profits from steady sales	Products have declining demand and poor future requiring as extremely efficient organization to maintain profitability; sometimes major marketing tasks relegated to organization extensions, such as selling agents. Occasionally a temporary structure is tried in hopes of rejuvenating the product.

1999~2021

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