Saturday, 20 August 2016

Product Life Cycle


Marketing implications of each stage of the product life cycle - details here. You need to know this.


Extension strategies extend the life of the product before it goes into decline. Try clicking on the pictures.

Advertising – try to gain a new audience or remind the current audience.
https://www.youtube.com/watch?v=Y9znA_dwjHw
Price reductions – making a product more attractive to customers.


Adding value – add new features to the current product, e.g. Spy phone app on mobile phones.https://www.youtube.com/watch?v=WE7KCfksR6U
Explore new markets – try selling abroad.


http://www.mcdonaldsindia.net/home.aspx

New packaging – brightening up old packaging, or subtle changes such as putting crisps in foil packets.



Product life cycle multiple choice questions. Click on the picture:
Advantages and disadvantages of product life cycle theory. Details here.