Question

Choose two products; each one should currently be in a different stage of the product life cycle. (Explain why you think each product is in the particular stage). For one of these, find out how they are currently marketed (i.e. with respect to product features, pricing, distribution, and promotion). Has there been a change in the way they are marketed now compared to when they were in the previous stages of their respective lifecycles? If in the introductory stage, how would you suggest they change their strategy in future stages?

Subject Marketing

Answer 1

answer-

PLC is the lifecycle of a product which every product goes through. there are four stages of PLC from which every product goes-

Introduction stage at which new product is launched in the market. growth stage at which company do more promotion and marketing and awareness of the product increases with sales. maturity stage at which sale of product is at peak and decline stage at which product get finished or started to removed from market.

the two products which i would discuss about are currently at different stage are-

Wireless bluetooth airpods like apple airpods at Growth stage and second is PSP gaming device at decline stage.

Apple airpods are great example of a product at Growth stage because these products are innovative and new to market and still in demand which is growing day by day. when these products were at introduction stage, Apple did a lot of marketing and promotion by spening millions of dollars on event marketing, social media marketing, TV advertising and discount price selling with iphones. i think this product will be on this stage for many years because companies are adding new features like wireless chagring, noise cancellation, fingerprint tap etc to make product more in demand and company will use promotion tools like discounts , offers to increase demand of this product.

the second product is PSP which is at decline stage because of introduction of online gaming in smartphones. at previous stages, sony company did a lot of investment on its marketing by taking aggressive pricing strategy at maturity stage to sell PSP at lower price to prevent it from decline. at introduction stage the prices of this PSP were too much high but due to this product was unique so demand was high.now they can only either innovate the PSP in to better version to launch a complete new product to create demand in market.

*hope above answer would help you.