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ACPowerPoint Presentation: 4 WHAT IS PRODUCT LIFE CYCLE DEVELOPMENT INTRODUCTION GROWTH MATURITY SATURATION DECLINE,DEATH WITHDRAWAL There are 7’s stage of every productPowerPoint Presentation: www.DreamzInternational.biz The product life cycle concept is the explanation of product from birth to death as product exits in different stage and in different competitive environment . PRODUCT LIFE CYCLE Not all product go to the all stages some fail in the initial stages other may reach the maturity stages after a long time.PowerPoint Presentation: 1. DEVELOPMENT STAGE Product development is the 1st stage of PLC in this stage company finds and develops A new product idea.during this stage of product sales are zero and there is only investment SOURCE OF NEW PRODUCT IDEA Internal sources External sources 1.R&D 2.Manufacturing people 3.Sales people 4.Top management 1.Customers 2.Competitors 3.Foreign market 4.ResellersPowerPoint Presentation: 2.INTRODUTION This stage of the product life cycle ,it is put in the market with full-scale of prodution and marketing programe.it is period when sales grow at low rate at that time firm generally suffer losses become of heavy development and promotional expenses. CHARACTERISTICS,FEATURES 1.Cost are very high 2.Slow sales volume to start 3.Heavy promotional expenses 4.Lack of knowledge 5.Demand is low STRATEGIES 1.Make proper advertinging before the product is launched in the market. 2.Selective distribution and attractive discount to dealers.PowerPoint Presentation: 3.GROWTH It is third stage of PLC, sales begin to rise. it is a period of rapid market acceptance and increasing profits. CHARACTERISTICS ,FEATURES 1.Rapid increase in sales 2.Increasen in compettion 3.Average cost per customers 4.Rising profit 6.Redution in price STRATEGIES 1.Improve the product quality. 2.Add new product features. 3.Enter into new market area. 4.Increase promotional activities.PowerPoint Presentation: 4.MATURITY During this stage sales continue to increase but at decreasing rate while sales curve is leveling Off.the profit of both the manufacture and the retailers are starting to decline because of rising Expenditure and lowering of price. CHARACTERISTIC ,FEATURES 1.Sales increase at decreasing rater 2.Low price 3.Normal promotional expenses 4.Profit decrease STRATEGIES 1.Improve the quality of the product and introduce some new model. 2.Try to convert non-user into users of the product. 3.Introduce new packing. 4.If the unit price is high ,companys give the product to instalment basis. 5.Change in the style and design of the product.PowerPoint Presentation: 5.SAURATION During this stage sales are at its peak.product is full matured,Replacemant sale dominate The market. Every marketer tries to maximize the time period of this stage ,because after This the product follow the path of decline. CHARACTERISTICS FEATURES 1.Sales of substitute product in the market start to rising.PowerPoint Presentation: It is the period when sales fall off and profit drop. CHARACTERISTICS,FEATURES 6.DECLINE 1.No promotional expenses 2.Further decrease in price 3.Furtther decrease in sales STRATEGIES R& D efforts are increased to innovate the new product. Packing may be made more attractive . Adopt selective promotion of the product to reduce distribution cost.PowerPoint Presentation: DEVELOPMENT INTRODUTION GROWTH MATURITY DECLINE SATURATION TIME PERIOD SALE AND PROFIT PROFIT SALES O PRODUCER CONTROL MARKET CONTROL PRODUCT LIFE CYCLE LONGEST STAGEPowerPoint Presentation: FACTORS AFFECTING THE PLC 1.Rate of technological change. 2..Rate of market acceptance. 3.Competitor’s entry 4.Risk bearing capacity. 5.Government policy.PowerPoint Presentation: PRODUCT LIFE CYCLE FOR 1.STYLISH 2. FASHION 3. FADS 1.STYLISH A style is a basic and distinctive mode of expression ,style generally appear in bulilding Construction,furuiture, automobile,clothing,shoes. 2.FASHION A fashion refers to a currently accepted style in a specific field.fashion generally appears In , readymade, garment ,hand purses ,hair clips,bangles,shoes,fashion article,etc. 3.FAD Fads are fashion that entre quickly with great zeal ,peak early and decline very quickly Fads appear in garment ,caps ,hairstyles,musicalbum, films,etc.PowerPoint Presentation: STYLE FASHION FADS O X Y O Y X O Y X SALES TIME PERIOD SALES TIME PERIOD SALES TIME PERIODPowerPoint Presentation: REFERENCES DR. C.B MAMORIA MARKETING MANAGEMANT RAMASWAMI AND NAMA KUMARI MARKETING MANAGEMANT PLANNING P. KOTLER MAKETING MANGEMANTA Some other net surveyPowerPoint Presentation: ANY QUESTIONSPowerPoint Presentation: THANK YOU You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.