Answer to Question #43155 in Marketing for raj

Question

What is product life cycle? Choose a case in international marketing and discuss the same.

Answer 1

Product life cycle combines all the stages of a certain product lifespan. It includes such stages as: development, introduction, growth, maturity, saturation and decline.

For example we can look through the life cycle of a modern mobile telephone. At the first stage certain company develops this new telephone with competitive advantages. Than it must be introduced to the customer by the means of advertising. The customers become interested in that mobile telephone. Sales grow atthe stage of growth. Maturity is a stage of life cycle, when the customers are satisfied andthe growth slows. Saturation can be characterized by a Saturation point. At this stage nofurther growth possible. At the stage of decline the amount of sales become smaller.