Otto Klepnner and The Concept of Product Life Cycle: Product Life Cycle Cases

In the product life cycle, All-round is found within the maturity stage. Here, sales increase at first but at a slower rate as the market introduces its competitors and increases competition. Sales and profit tend to decline towards the end of the maturity stage. In one strategy, it is important to maintain customer loyalty and satisfaction in order to maintain profitability within this stage. For example, promotional allowances and sales force relationships are essential in having this accomplished. Another strategy is reformulation of the product. All-round has not been reformulated but improvements on a routine basis to the product can help increase market growth.

C. applies to categories or types of products as opposed to brands D. shows that sales and profits tend to move together over time 18) Which of the following is one of the product life cycle stages? A. Market analysis

In marketing, there is a tool that is very useful to marketing strategy development. This tool is known as the product life cycle. The product life cycle goes through four stages before it is complete or starts over again. The life cycle starts with the introduction of a product, and then the product begins to grow as it is recognized by more markets and is delivered to through more channels. After the growth period, a product reaches maturity where there has competitors and sales do not match up with profit. This is the time where marketing strategists reevaluate and try to remarket the product. The last stage is the decline. This is where the seller decides to cut

A life cycle diagram helps businesses analysis their attempt to identify a set of commercial stages in the life of commercial products, for example, introduction, promotion, growth maturity and decline.

What type of operations focus on products in the early stage of the life cycle?

The product life cycle is known as the procedure where a product is introduced to the market, expands in popularity,

The impact of product life cycle on marketing is that corporations must always plan products and offerings according to the life cycle. Especially in the durable goods market like motorcycles it is imperative than a manufacturer know the product life cycle in order to maintain market share or grow. In order to maximize life cycle revenues the company must maximize revenues and profits from all sources including warranties, spare parts, and accessories. Service is an integral part of a long product life cycle.

Organisational life cycle is extremely important for an organisation to understand and to be able to apply it to each of the products or services that it provides.

Phases of Innovative ProcessThe innovative process was very influential in product development. In the 1960s NASA developed the four basic phases which are the Preliminary analysis,

All products have a lifecycle. They begin as an idea that needs Research and Development (R&D) or time to develop. This is a direct cost to the company. Once the product and/or service is ready to be marketed, it goes through five stages: development, introduction, growth, maturity, and decline.

Besides brand image, it also has a stored image in the minds of its customers with simple criteria, but vital - large, fresh and delicious. The product life cycle is the theory that all products folow a similar pattern over time the development, introduction, growth, maturity and decline.

In 1949 Harvey J Earl of General Motors pioneered ‘Planned Obsolescence’. He realised that by adding fashionable products when new trends come in older products would be discarded in favour of the latest fashion.

The product life cycle concept derives from the phases through which a product undergoes, from its introduction, to its growth in the market, to the maturity it attains in that market, to the very last stage of declination. The

Product life cycle refers to the stages that a product. Changes in demand for the product is the factor that delineates the changes from one cycle to another (Daft & Sanders, 2012). The typical product life cycle has four identifiable stages;

Product Lifecycle Analysis: The identification of investment in this business idea is worthwhile as a result of research made, for instance, Bakery Info UK (www.bakeryinfo.co.uk, 2013) explained that the revenue made by the bakery firm has passed £12m and sale grew by 19% since the last financial year both in the UK and in the Europe despite the economy turmoil facing the businesses on the continent, which is limiting the extent to which profits could grow