--%>
Assignment Help - homework help

Product Life Cycle

Write down the major phases or stages of Product Life Cycle?

E

Expert

Verified

PRODUCT LIFE CYCLE:

The product life cycle consists of four major stages listed below:-

• Introduction: in this stage the product is introduced in the market and its acceptance from customers is obtained. Sales volume and profits are low as the consumers take time to shift to a new unknown product. Competition is low, distribution is limited and prices are relatively high. High advertisement expenditure is undertaken to create primary demand. Growth rate of sales is low and costs are high due to limited production.

• Growth: as the product gains acceptance, demand and sales grow rapidly. Competition increases and prices fall. As economies of scale start generating profits, attempt is made to improve the market share by deeper penetration into the existing market and ways are found to enter new markets.

• Maturity: during this stage the prices and profits fall due to high competitive pressure. Growth rates become stable and weak firms are forced to leave the industry. Heavy expenditure is incurred on promotion to create brand loyalty.

• Saturation: market peaks and levels off during saturation. Few new customers buy the product and repeat orders disappear. Prices decline further due to stiff competition and firms fight for retaining market share.

• Decline: the sales and profits of the product fall rapidly due to its gradual displacement by new products or evolving change in consumer preferences. Many firms abandon the product to make better use of resources. New product innovations enter the market to take place of obsolete products.

   Related Questions in Biology

  • Q : Name the hormones secreted by the

    Name the hormones secreted by the adrenal cortex? Also state their respective functions?

    		•
  • Q : Define Artificial insemination

    Artificial insemination: Artificial insemination is employed in cross-breeding to get enhanced breeds of animals. The semen of a male animal is introduced onto the female uterus through means of a syringe. This is sometimes utilized in human beings to

    		•
  • Q : Vector of Chagas disease Write down the

    Write down the vector of Chagas’ disease? How is the disease transmitted?

    		•
  • Q : Rule for pairing of nitrogen-containing

    Write down rule for pairing of nitrogen-containing bases in DNA molecule and in RNA?

    		•
  • Q : Description of homeostasis Give a brief

    Give a brief description of homeostasis? What are the controllers, sensors and effectors of the homeostasis?

    		•
  • Q : Photosensitivity in cnidarians How does

    How does photosensitivity in the cnidarians, annelids and worms differ from cephalopods, insects, and the vertebrates?

    		•
  • Q : Where are chemoreceptors which detect

    Where are the chemoreceptors which detect the acidity of blood and trigger the respiratory compensation positioned?

    		•
  • Q : Key Concept of Different Views of

    The concepts for developing these different views of organizational learning come primarily from three sources: 1) The articles the authors see an organization as a culture and the juxtaposition of order and disorder often stimulates learning. 2) The social construction of knowled

    		•
  • Q : Arthropods

    According to examples of representing beings, how are arthropods characterized, fundamental morphology, kind of symmetry, germ layers and coelom, respiratory system, digestive system, excretory system, circulatory system, nervous system and kinds of reproduction?

    		•
  • Q : Uses of the indirect immuno fluorescence

    Write down the uses of the indirect immuno fluorescence.

    		•