Product life cycle
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In our reading, we learned about the product life cycle. Using the Wall Street Journal, find a product in each stage of the product development life cycle. Briefly describe the product and why you think it is in the stage you are placing it. Also, compare each product to their nearest competitors and explain what pricing strategy you think they are using.
Deliverables:
1) A product description for each stage of the life cycle. Provide a citation to an article about this product.
2) An explanation of the price strategy for each product.
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Solution Summary
The expert examines a products life cycle. What pricing strategy do you think they used is determined. The response addresses the query is posted in 687 words with APA References.
Solution Preview
The response addresses the query is posted in 687 words with APA References.
//Every product goes through some basic phases in its lifecycle in the market. These basic phases fall into four different categories. Here, we have discussed the products and their pricing strategies, along with their competitors.//
In the present era of the hi-tech world, companies are focusing more on increasing the product lifecycle. Their life starts from the introductory phase, where the products are launched in the market. The products are then marketed and promoted by the company to increase its popularity. This is the growth phase, where the products try to capture the market. The maturity phase is attained by the product when the product is at its optimum level in its lifecycle and is followed by a decline phase, where it's manufacturing and marketing declines and eventually stops.
//In the above discussion, we discussed the four phases of the product lifecycle. There are many products that lie in these phases, along with their competitors' products. Below is the market strategy and introduction of such products in context to their lifecycle.//
The products in the introductory phase are the ones still under surveillance for their betterment. One such product is Apple Watch that ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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