Product Life-Cycle Model Essay -- essays research papers

OverviewThe crossroad can be defined as goods, services or both in the other words its anything that satisfies customer need. Each product has its own limited life, however it shares the same aspect and we define the finale that the product goes through as the Product life cycle. The Product life cycle consist of four stages starting from introduction stage, growth stage, due date stage and decline stage. At the introduction stage, the product is not popular and cant really make a lot of profit. Its marketing salute may be high in order to test a market and set up a distribution channel. At the growth stage, the product start making a profit, the sales increase rapidly with some cost on marketing especially brand building. Competitors enter the market, often in large number depending on how attractive the market is. When a profit starts to decline, its the sign of Maturity stage. At maturity stage, the sales pass on to increase but at the decreasing rate until become stable, b ecause of price competition. The product reaches its peak at this stage, most companies fight aggressively to maintain their market share. The competition is very intense, unfortunately a small buckrams will die one by one. During the decline stage, the profit start to drop gradually, each firm has to manage carefully. Therere not many choice to choose now take the most out of it before exit or reach out the market by using marketing mix strategies in order to extend product life.Can product life...