Question

VHS Format Life Cycle Phases & Key Events

Stage 1: Introduction

Stage 2: Growth

Stage 3: Maturity

Stage 4: Decline

Answer 1

the product lifecycle goes through four stages. These are a market introduction, growth, market maturity, and decline. One product that I have seen go through the four stages of the product lifecycle is the VHS VCR. There were many manufacturers of VCR’s. The VCR came on to the market around the 1970s and now it is nowhere to be found.

Stage 1: Introduction:- Product introduction occurred in the early 1950s when magnetic strip VTR’s were replaced by the VCR as the predominant format for home use. During this transition, the VCR replaced the VTR during a span of few years is when sales for both were split. After the three year span, the VCR became the main format for most Americans. Product planning and costing occurs in this introduction stage

Stage 2: Growth:-Market Growth: The growth stage for the VCR’s occurred during the early 1950’s to the early 2000s. During the growth, stage sales rise and costs fall due to increased efficiency as production and product demand increases. This stage is where new properties are added to the product and income begins to exceed manufacturing costs.

Stage 3: Maturity:-Market Maturity: During this stage, VCR’s reached the maturity stage between the 1990’s and 2000. In this stage, costs and sales are stable. The maturity stage is the most important stage since most sales are made during this period.

Stage 4: Decline:-Market Declining: VCR’s are in the declining stage from 2000 to present. The cost and sales are both decreasing. During the declining stage, advertising and promotions decrease as sales and the cost of the product decrease. Planning for new products needs to be done prior to this stage to keep the business moving forward

The product’s brand is impacted differently through each stage of the life cycle. During the introduction stage, the VCR is the next new wave of technology and the marketing of the product heavily relies on word of mouth and consumer reviews. During the growthand maturity stages, the brands become common household names. During the Declining stage, the brand became less discussed. Some brands begin producing newer products, such as Sony, Shizuo Takano in these cases produced VHS players. We have seen in addition to marketing product life cycle, the consumer also has a product life cycle for their purchases. This consists of the buying stage, operating stage,support stage, maintenance stage and disposal stage in most cases