final answer.please see the attached file.feel free to seek clarification and adjustments.
PRODUCT LIFE CYCLE
THEME AND THE GOALS OF THE
• The goals of this presentation will be:
• Understanding the product lifecycle and the different components that
make the it
• To understand how managers can use the PLC in the process of developing
• To develop the necessary awareness on the importance of PLC on the
• To critically examine each phase and understand different component
which they are presented by the end of the process.
• For the success of any business, the term product lifecycle must be real and
taken with the magnitude it requires.
• With this PLC defines the different phases in which the business undergoes in
the process of development (Kubler et al. 2015).
• It explains the models which the business should keep to succeed.
• Each phase has unique features which must be understood in the business
• It is the duty of managers to utilize this concept for the success of the
IMPORTANCE OF PLC TO
• It reduces the time spends to market due to under running the market.
• Reduces the market entry costs
• Makes the development of an efficient and profitable distribution channel
become an easy process (Ferreira, et al. 2017).
• Higher returns are realized on the investment from the promotional
• It ensures an extended lifetime of the products by adapting the manager's
approach throughout the cycle.
• Ensures an orderly and profitable end of life product management
ROLE PRICING STRATEGY IN
• Pricing at as the pivot of the larger economy ensuring that the market
components are working.
• It is only through pricing that demand can be regulated in the market/
• Price acts as the competitive weapons that can be used in the process of
• It is only through pricing that the profitability of a given business can be
• Lastly is the fact that pricing at as the overall decision input in a given market
HOW MARKETING MANAGER DECIDES
ON THE PRICING STRATEGY
• The pricing strategy used is subject to the following. First is the market analysis
(Lämmer, & Theiss, 2015)
• Second is the level of competition which the market exhibits
• Third is the perceived value of the product when it is placed in the market
• Fourth is the cost of developing or producing that particular product
• Fifth is the economic trends and the level of the market demand
• Others include customer demographics and class of the targeted customers.
ORGANIZATION AND PRODUCT
• The organization in question is a hotel
• It offers bot accommodation and the meal service to customers who vests
• It is one of the most complicated business due to the unique characteristics
such as heterodegenity (Lämmer, & Theiss, 2015).
• Another critical component is the fact that these products are very
perishable and their production is in most affected by those in production.
• The products offered includes the meals while the service includes
accommodation and gym services.
THE INTRODUCTION STAGE OF THE
• It relates to the new products be launched on the market for the first time.
• The sales and marketing costs are very high with low turnover
• Products are not profitable to the company in most cases due to low market
adoption (Stark, 2016).
• Distributor are always reluctant in the process of taking these new products
• The concentration is based on market and the need to promote the product