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Product life cycle of gourmet coffee industry

How is the product life cycle applied to the gourmet coffee industry? I am talking about Starbucts and McDonalds. Growth, Maturity, and decline stage?

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How is the product life cycle is applied to the gourmet coffee industry? I am talking about Starbucks and McDonalds. Growth, Maturity, and decline stage?

The product life cycle is applied to the gourmet coffee industry by selecting individual products. The duration of some products may be short and some items may continue for a long time. Both the companies, namely Starbucks and McDonalds are actively involved in product development of gourmet coffee. When each product moves through its life cycle changes in the marketing mix are used by Starbucks and McDonalds to adjust to the evolving challenges.

There are several products both by Starbucks and by McDonalds that are in the growth stage. In this stage the sales increase as more customers know about the ...

Solution Summary

Product life cycle of gourmet coffee industry is discussed very comprehensively in this explanation..

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