Identify a Product Life Cycle (PLC): changes will occur; how will marketing be affected?
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Ipod Touch. Identify the product life cycle (PLC) stage of this product. Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?
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Detailed explanation of question, complete with research and external links of marketing strategies employed.
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Product life cycle is a way to look at the introduction of a new product into the market. According to http://www.valuebasedmanagement.net/methods_product_life_cycle.html, these are the stages: introduction, growth, maturity and decline.
Let's look at an iPod touch. http://www.apple.com/ipodtouch/
I would say that it is now in the growth stage of the PLC. This is the stage when more people will learn about your product. This could occur because of word of mouth from the innovators who tried the iPod touch during the introduction phase, or because of increased presence in the market. This is the time that the company needs to build brand loyalty, and it hopes that a consumer becomes a repeat client. Also, the company needs to work towards building market share in the touch screen iPod market. The marketing campaign differs from the introduction stage - it might ...
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