Post on 18-Nov-2014
description
Product Life Cycle
V.Shanmuga Prabhakar
Marketing Management
Product Life Cycle Product passes through certain distinct
stage in its life and this is called the product life cycle.
Four Distinct Stagesa. Introductionb. Growthc. Maturityd. Decline
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Looping
Cancer
Birth
Growth
Maturity
Decline
Death
New LifeCycle
Time
Profit
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PDLC is to assert
Limited LifeDistinct stages - different challenges,
opportunities and problems to the sellers
Rise and fall in profitDifferent marketing, financial,
manufacturing, purchasing and human resource strategies in each stage.
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Growth-Slump-Maturity Cycle-Recycle Scalloped Fad Seasonal Boom Revival or Nostalgia Bust
Different Patterns
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Home Appliances
Products with Exchange Offer
Nylon, Bamboo, Jute
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Growth-Slump-Maturity
Scalloped
Cycle-Recycle
Fad Pattern
Red Bull Energy Drink
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Seasonal Pattern
Ear Muffs
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Boom Pattern
Horlicks Plain
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Revival Pattern
General MotorsAmbassador
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Bust Pattern
HCL MiLeap X Series ultra-mobile laptop
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4
4 P’s during different stages
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4
Product Diffusion Curve
Product Diffusion curve is partly responsible for product lifecycle curve
Consumers grouped - how quickly they adopt to a product
New product adoption process can be modeled as a bell shaped curve
Five different adoption groupsa. Innovatorsb. Early Adoptersc. Early Majorityd. Late Majoritye. Laggards
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4
Product Diffusion Curve
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4
Adoption Groups
Group % Characteristics
Innovators 2.5 Interested in new ideas
Early Adopters
13.5
Convey Ideas of innovators to others.
Greatest degree of opinion leadership
Early Majority 34 Adopt new innovation just before the average member of a system.
Late Majority 34 Adopt new innovation after the average member of a system.
Laggards 16 Traditional. Suspicious of innovators. Not opinion leaders.
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THANK YOU……….!
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