Developing New Products And Managing the Product Life-Cycle



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The Product Life Cycle

  • 8 -
  • Product life cycle: The course of a product’s sales and profits in its lifetime. It involves five distinct stages:
    • Product development
    • Introduction
    • Growth
    • Maturity
    • Decline

Applying the Product Life Cycle

  • Copyright 2011, Pearson Education Inc. Publishing as Prentice-Hall
  • 8 -
  • Product class has the longest life cycle.
  • Product form tends to have the standard PLC shape.
  • Brand can change quickly because of changing competitive attacks and responses.
  • Style is a basic and distinctive mode of expression.
  • Fashion is a popular style in a given field.
  • Fads result in a temporary period of unusually high sales driven by consumer enthusiasm. Fads decline quickly.

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