What Are Some Reasons For Contracting A Product Line?

C. applies to categories or types of products as opposed to brands D. shows that sales and profits tend to move together over time 18) Which of the following is one of the product life cycle stages? A. Market analysis

The impact of product life cycle on marketing is that corporations must always plan products and offerings according to the life cycle. Especially in the durable goods market like motorcycles it is imperative than a manufacturer know the product life cycle in order to maintain market share or grow. In order to maximize life cycle revenues the company must maximize revenues and profits from all sources including warranties, spare parts, and accessories. Service is an integral part of a long product life cycle.

2. How do product development methodologies influence a firm's ability to respond to market demands?

The Lifecycle model is used to describe the beginning, middle, and end of a product. Give an example of an everyday product you use and it’s lifecycle. (5)

Third, the effects of the product life cycle, which is “Four distinct but not wholly-predictable stages every product goes through from its introduction to withdrawal from the market: (1) introduction, (2) growth in sales revenue, (3) maturity, during which sales revenue

Pricing is an important aspect in examining the stages of the product lifecycle: raw materials extraction, materials processing, product manufacturing, wholesale and retail outlets, purchasing and consumers and product waste and recycling. Lifecycle pricing exist to bring to light all aspects of the product’s lifecycle and the true price/cost it incurs. Lifecycle cost can be defined as “the total estimated cost to be incurred in the design, development, production, operation, maintenance, support, and final disposition of a major system over its anticipated useful life span”. (Hassn, Zaina, 2014) There is much to be studied here in

The main aim of the lifecycle process is to produce a product which would be cost efficient, effective and also up to the high standard. Once the application is created, the lifecycle determines the proper arrangement and decommissioning of the software once it becomes legacy [5].

PLC (Product Life Cycle) is defined as the life span of a particular product. It entails of four stages which are labeled as introduction, growth, maturity and decline. The introduction stage is when the product is first introduced on

The product life cycle goes through a series of phases in order to create the digital camera, whereas the project life cycle includes the ideas, creation, operations, marketing and product retirement

The product life cycle is the period of time over which an item is developed, brought to market and eventually removed from the market. The cycle is broken into four stages: introduction, growth, maturity and decline. The idea of the product life cycle is used in marketing to decide when it is appropriate to advertise, reduce prices, explore new markets or create new packaging. The product life cycle has 4 very clearly defined stages, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their particular products.

Based on all of the answer above and the work you have completed in relation to question 1 and 2, identify and describe the best marketing mix for the new product or service opportunity. Provide your reasons for this choice.

Once the product is established, the product life cycle enters into the maturity stage. At this stage organization takes feedback from various groups of users and improve the product usability with add on features and introduce different models without changing the basic applications.

In the market, a product’s sales and profits alter with time. The method demonstrates from high to low as well as low to high. The product life cycle phenomenon is like the same of human life, from birth, growth to maturity and ultimately to decline. Products just through analysis of marketing, research and improvement and then gets into the marketplace, its life cycle be considered the root. Products out of the marketplace indicates the ending of the life cycle of the products (Gorchels, 2000). There are basically four stages of product life cycle, such as introduction, growth, mature and

“Product development is the process of designing, creating and marketing new products or services to benefit the customers”. Product development comprises of all the processes, which leads the formation of a product starting from the Initial idea to the sale of the final product. It is the key tool to keep the companies in competition with the competitor products and to keep up with the changes and trends in the market. Product development comes into play when a firm wants to develop a new product to target a specific market segment or in improving an existing product or its packaging. Product development plays a key role in the success of a product and also on the lifetime of the product. Most successful organizations and manufacturing companies are more likely to have some kind of formally defined and well-structured development process. Although the product development process is defined differently from different manufacturers, it contains the some important phases in common. The general key processes or phases that involve in the product development are:

On the other hand product life cycle is based on Raymon Vernon’s theory which indicates the life cycle of a product in the form of a curve. The curve being divided into four stages namely development, growth, maturity and decline. It is interesting to note these four stages and four categories of BCG matrix can be used to co-related with one another as can be seen in the below case study of DHL.