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    The Stage the Selected Product is at in the Product Life Cycle

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    Select a product with which you are familiar. What stage is your selected product at in the product life cycle? Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?

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    Solution Preview

    http://www.valuebasedmanagement.net/methods_product_life_cycle.html, these are the stages: introduction, growth, maturity and decline.

    Let's look at an iPad http://www.apple.com/ipad/

    I would say that it is now in the GROWTH stage of the PLC. This is the stage when more people will learn about your product. This could occur because of word of mouth from the innovators who tried the iPad touch during the introduction phase, or because of increased presence in the market. This is the time that the company needs to build brand loyalty, and it hopes that a consumer becomes a repeat client, who might then purchase the next generation of the iPad when it is launched in a few months. The marketing campaign differs from the introduction stage - it might perhaps be targeted to a wider range of consumers, who were skeptical to try the iPad when it was launched, but are not intrigued with the hype surrounding the product, and want to jump in and buy ...

    Solution Summary

    The solution discusses what stage the selected product is at in the product life cycle.

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