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Sales Plan: Phase Three

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Using your product or service (iPhone), you have just learned that your product lifecycle has changed. Select a new product lifecycle stage and prepare a 600-800 word minimum revised sales plan including 1 chart or 1 data graph. You will address the following in your revised sales plan:

*Illustrate the changes to your product's lifecycle.
*Overview of your original sales plan.

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Solution Summary

This solution helps illustrate a product's lifecycle and gives an overview of a sales plan.

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Changes in Product Life Cycle

Product life cycle is a broad marketing concept that involves mainly four stages that are introduction, growth, maturity and decline. Apple iPhone has moved from the growth stage to the maturity stage of product life cycle. Market competition affects the product life cycle of a product. Increased competition and market changes have lowered the product sales (Calvin, 2004). Changed market variables have resulted into the conversion of growth stage to maturity stage. Taste & preferences of the consumers have also changed that attracted new players in the market. There are mainly three stages that reflected the changes in the product life cycle. These are as follow:

Introduction stage: Firstly, the Apple iPhone was in an introduction stage. In this stage, the product has targeted the new target market with innovative approach (Apple iPhone, 2010). Aggressive use of promotional tools like, advertising, sales promotion etc have been used in this stage. Pricing strategy used in this stage was value based pricing (Loudon, Loudon, Stevens & Wrenn, 2004).

Growth Stage: After a period of time, the product has moved to a growth stage. In this stage, the company has used distribution channels to increase the product demand among the customers (Calvin, 2004). The ...

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