Strategies Based on the Product Life Cycle
The
product life cycle
is a model that shows how sales
volume changes over the life of products. Understand-
ing the four stages in the product life cycle helps
managers recognize that strategies need to evolve
©iS
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evemilla
Hershey uses an overall cost leadership strategy to promote
its candy bars. By keeping its costs as low as possible, the
firm can provide good-quality snacks at competitive prices.
This strategy benefited the firm during the recent recession
as customers cut back on higher-priced candy, allowing
Hershey to gain new market share.
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