Product Life Cycle (PLC)
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Give a short background on the modifications of the iPod. What are your thoughts about why it has successfully avoided the declining stage?
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The solution provides a short background on the modification of the iPod.
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It is first necessary to understand and dissect the theoretical characteristics of what a product lifecycle is. A product life cycle is a series of stages that every product goes through. The stages start with introduction of the product, and then proceed to growth, then maturity, and finally a decline. A good example of this is the VCR, which has eventually declined completely from the marketplace. What is important about the product lifecycle is that each stage requires detailed analysis as to how the organization feels is the best way to proceed. For instance, at the introduction stage, the organization has to contend with the branding of the product, the pricing point, and how it will be promoted and distributed. ??
When analyzing the iPod, there was clear success in the strategy in which Apple utilized when introducing the product to the market. It was innovative, with the appropriate price point, ...
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