IJ Dhafi Quiz Find Answers To Your Multiple Choice Questions (MCQ) Easily at ij.dhafi.link. with Accurate Answer. >>
This is a List of Available Answers Options :
Click to See Answer What is ij.dhafi.link Site?IJ Dhafi Quiz Is an online learning educational site to provide assistance and insight to students who are in the learning stage. they will be able to easily find answers to questions at school.We strive to publish Encyclopedia quizzes that are useful for students. All facilities here are 100% Free. Hopefully, Our site can be very useful for you. Thank you for visiting. Every product goes through the various life cycle phases of introduction, growth, maturity and decline. Discuss the rationale behind the marketing concept of product life cycles
Characteristics of the introduction stage are:
During the growth stage, the public becomes more aware of the product; as sales and revenues start to increase, profits begin to accrue. Identify the conditions that exist when a product is in stage 2, growth of the Product Life Cycle
During the maturity stage, sales will peak as the product reaches market saturation, and competition will grow increasingly fierce. Identify the market conditions of a product in stage 3, maturity of the product life cycle.
During decline, sales growth becomes negative, profits decline, competition remains high, and the product ultimately reaches its 'death'. Identify the characteristics of a product in the decline stage of the product life cycle.
Example: The Personal Computer (PC) shows the actual sales and price of the personal computer from 1992 to 2002. The PC was state-of-the-art technology in 1992. Only technologically-advanced individuals would buy one at the very steep price of $1800 (and bear in mind, $1800 in 1992 was worth a lot more than it is today). A large number of companies were competing in the field. As the market grew, businesses learned to be more efficient in producing the PC and prices came down. The drop in prices and improvements in technology made PCs more attractive to other consumers. However, the market became saturated after 2000 and went into decline. PCs started to become obsolete as laptops, net books, tablets, and smart phones started to enter the market, shifting the emphasis from power to portability. The PC is still used all over the world, but its popularity has declined dramatically.Product life cycles are a useful guide to lifetime sales and profits, and can help marketers understand what strategies to deploy & when. Discuss characteristics of a product's life cycle curve
iPod The iPod touch is currently in the mature phase of the product life cycle. This is because the iPod touch is just an evolution of a product that has been around for long time. Competitors like Microsoft's Zune have just followed Apple's design and technology, while the iPod has evolved over multiple "generations," each adding new features and functionalities. Today, the iPod touch is more than just a music player; it plays videos, runs apps and can be used as an organizer. Such a product may be difficult to classify using the product life cycle model - is it the same old iPod, or an entirely new product?The stage of the life cycle of the product affects how it is marketed. Summarize marketing strategies that apply to product life cycles
CC licensed content, Shared previouslyCC licensed content, Specific attribution |