Product life cycle & Various Stages
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Transcript of Product life cycle & Various Stages
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PRESTIGE INSTITUTE OF MANAGEMENT GWALIOR
PRESENTED BY:-
Deepanshu Goyal
Devendra Singh Rathore
Meghna Sharma
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CONTENT
Introduction of PLC
Introduction stage of PLC
Marketing strategies used in INTRODUCTION stage
Growth stage of PLC
Marketing strategies used in GROWTH stage
Maturity stage of PLC
Marketing strategies used in maturity stage
Decline stage of PLC
Marketing strategies used in DECLINE stage
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INTRODUCTION
“The stages through which the individual
products develop over a period of time is known
as product life cycle.”
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PRODUCT LIFE CYCLE
Introduction
?
?
?
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INTRODUCTION STAGE OF PLCSALES
COST
PROFIT
MARKETING
OBJECTIVES
PRODUCT
PRICE
DISTRIBUTION
ADVERTISING
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MARKETING STRATEGIES USED IN INTRODUCTION STAGE
•Rapid Skimming
•Slow Skimming
•Rapid Penetration
•Slow Penetration
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PRODUCT LIFE CYCLE
Introduction
Growth
?
?
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GROWTH STAGE OF PLC
SALES
COST
PROFIT
MARKETING
OBJECTIVES
PRODUCT
PRICE
DISTRIBUTION
ADVERTISING
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MARKETING STRATEGIES USED IN GROWTH STAGE
• Improve product quality and add new product features and
styling.
• Add new models and products of different sizes, color,
shapes etc.
• Enter new market segments.
• Increase distribution coverage, enter new distribution
channels.
• Shift from product awareness to product preference
advertising.
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PRODUCT LIFE CYCLE
Introduction
Growth
Maturity
?
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MATURITY STAGE OF PLC
SALES
COST
PROFIT
MARKETING
OBJECTIVES
PRODUCT
PRICE
DISTRIBUTION
ADVERTISING
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MARKETING STRATEGIES USED IN MATURITY STAGE
•Market
Modification
•Product
Modification
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PRODUCT LIFE CYCLE
Introduction
Growth
Maturity
Decline
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DECLINE STAGE OF PLC
SALES
COST
PROFIT
MARKETING
OBJECTIVES
PRODUCT
PRICE
DISTRIBUTION
ADVERTISING
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MARKETING STRATEGIES USED IN DECLINING STAGE
• Increase the firms investments to dominate the market
•Maintain the firms investment level until the uncertainties
about the industry are resolved.
•Decrease the firms investment selectively by dropping
the unprofitable customers group.
•Harvesting the firms investment to recover cash quickly.
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THANK YOU