Product life cycle

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  • Created by: Steff06
  • Created on: 07-06-16 20:21
What are the stages in product life cycle?
Introduction, growth, maturity, decline, replacement, product disposal.
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Explanation of stages in product life cycle
Product introduced, popularity increases, market stabilises and becomes mature. Production is overtaken by competitors and declines.It is then withdrawn.
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What can help sales and profitability to increase in growth period?
Reducing the price and continued advertising and wider distribution.
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What happens in the maturity stage?
Competition arises. If their products are good cheaper, they may overtake.Pricing strategy must be reviewed.
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How can a fashion garment's life be prolonged in the decline stage?
Targeting a different and smaller segment.
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What is the life cycle of a basic product life?
E.g. jeans, T-shirts. Steady, long life cycle with same people buying multiple items of the basic.
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What is the product life cycle of a fashion product like?
Short than a basic product life cycle. Large no. of people adopt style at same time then drop it.
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Describe the product life cycle of a fad product
Shortest life cycle.Typically adopted by a particular group for a short period of time.
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What must be considered about a product's life cycle?
How long will it last? What maintenance is required? Can it safely be disposed of?
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Other cards in this set

Card 2

Front

Explanation of stages in product life cycle

Back

Product introduced, popularity increases, market stabilises and becomes mature. Production is overtaken by competitors and declines.It is then withdrawn.

Card 3

Front

What can help sales and profitability to increase in growth period?

Back

Preview of the front of card 3

Card 4

Front

What happens in the maturity stage?

Back

Preview of the front of card 4

Card 5

Front

How can a fashion garment's life be prolonged in the decline stage?

Back

Preview of the front of card 5
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