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Product Life Cycle and Branded Products

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Think about a branded product (e.g., Ivory soap, Crayola crayons, Chiquita bananas). Research the brand and analyze how the company has managed the brand's product life cycle (PLC) over the years.

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Solution Summary

This in-depth solution details the five main stages of the product life cycle and the impact on decisions made on the company. It uses a real-life example of applelpod and analyzes its product life cycle over the years. References used are included.

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Stage of Product Life Cycle and Impact on Decisions Made

Products go through several stages from conceptualization of the product to its end. A new product progresses through a sequence of stages from introduction to growth, maturity, and decline. This sequence is known as the product life cycle and is associated with changes in the marketing situation, thus impacting the marketing strategy and the marketing mix.
Products tend to go through five stages:

1. New product development stage
* Very expensive
* No sales revenue
* Losses
2. Market introduction stage
* Cost high
* Sales volume low
* Losses
* High prices
3. Growth stage
* Costs reduced due to economies of scale
* Sales volume increases significantly
* Profitability
* Prices to maximize market share
4. Mature stage
* Costs are very low
* Sales volume peaks
* Prices tend to drop due to the proliferation of competing products
* Very profitable
5. Decline stage
* Sales decline
* Prices drop (lower prices may lead to lower value perception)
* Profits decline
(www.en.wikipedia.org)

Case of AppleIpod
Apple iPod is a brand of portable digital audio players designed and marketed by Apple Computer.

At the introduction stage, ...

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