Marketing: Product Life Cycle
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Select a product with which you are familiar. What stage is your selected product at in the product life cycle? 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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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 perhaps be targeted to a wider range of consumers. More stores will start to carry ...
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