Product Lifecycle

Tutor: None Selected Time limit: 1 Day

Products, like people, are viewed as having a life cycle. Product life stage cycles include (a) Introduction, (b) Growth, (c) Maturity, and (d) Decline.

What Life stage would you say the following items reside?

Canon digital cameras

Hand-held manual can openers

HP tablet computers

What marketing strategies would you suggest to these companies? 

May 26th, 2015

It’s possible to provide examples of various products to illustrate the different stages of the product life cycle more clearly. Here is the example of watching recorded television and the various stages of each method:

  1. Introduction – 3D TVs
  2. Growth – Blueray discs/DVR
  3. Maturity  – DVD
  4. Decline  – Video cassette

The idea of the product life cycle has been around for some time, and it is an important  principle manufacturers need to understand in order to make a profit and stay in business.

However, the key to successful manufacturing is not just understanding this life cycle, but also proactively managing products throughout their lifetime, applying the appropriate resources and sales and marketing strategies, depending on what stage products are at in the cycle.

Distribution has become an important marketing tool for services, and electronic distribution ... What marketing strategies would you suggest to these companies

 (a) Canon digital cameras—growth stage,

 (b) Hewlett Packard tablet computers

introductory stage, and (

c) handheld manual can openers—decline stage.

May 26th, 2015

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