Marketing product life cycle
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What stage is laptop(computer )or Playstation 2 product and product life cycle based upon your knowledge of the product life cycle, what types of changes will occur to the product you selected, as it continues through the product life cycle? How will this affect the marketing of your selected product?
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Hi there,
First some information about the typical product life cycle so that my explanation is put into proper context:
A product's life cycle (PLC) can be divided into several stages characterized by the revenue generated by the product.
Introduction Stage
When the product is introduced, sales will be low until customers become aware of the product and its benefits. Some firms may announce their product before it is introduced, but such announcements also alert competitors and remove the element of surprise. Advertising costs typically are high during this stage in order to rapidly increase customer awareness of the product and to target the early adopters. During the introductory stage the firm is likely to incur additional costs associated with the initial distribution of the product. These higher costs coupled with a low sales ...
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