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PRODUCT LIFE CYCLE

Time

CHARACTERISTICS OF DIFFERENT STAGES IN LIFE CYCLE


Characteristic s Introduction Growth Maturity Decline

Marketing Objective

Attract innovators & opinion leaders to new product


Increasing

Expand distribution & product line


Rapidly Increasing Some Increasing Affluent mass market Rising no. of outlets

Maintain Cut back revive differential or terminate advantage as long as possible


Stable decreasing

Industry sales

Competition Profit Customers Distribution

None or small Innovators Depends on product

Substantial decreasing Mass market Greatest no. of outlets

limited decreasing Laggards Decreasing no. of outlets

EXAMPLES OF PLC
Introduction stage 3D TV

Growth Stage Android phones

Maturity Stage DVD players

Decline Stage VCR

ASSUMPTIONS

Not all products introduced in the market essentially pass through all the stages of its life cycle. There is no definite line of differentiation between the various stages of product life cycle. At the same time, a product may be in different stages of its life cycle in different segment of the market. The time span of each stage in plc in respect of each product may vary.