Product life cycle & Various Stages

PRESTIGE INSTITUTE OF MANAGEMENT GWALIOR

PRESENTED BY:-

Deepanshu Goyal

Devendra Singh Rathore

Meghna Sharma

CONTENT

Introduction of PLC

Introduction stage of PLC

Marketing strategies used in INTRODUCTION stage

Growth stage of PLC

Marketing strategies used in GROWTH stage

Maturity stage of PLC

Marketing strategies used in maturity stage

Decline stage of PLC

Marketing strategies used in DECLINE stage

INTRODUCTION

“The stages through which the individual

products develop over a period of time is known

as product life cycle.”

PRODUCT LIFE CYCLE

Introduction

?

?

?

INTRODUCTION STAGE OF PLCSALES

COST

PROFIT

MARKETING

OBJECTIVES

PRODUCT

PRICE

DISTRIBUTION

ADVERTISING

MARKETING STRATEGIES USED IN INTRODUCTION STAGE

•Rapid Skimming

•Slow Skimming

•Rapid Penetration

•Slow Penetration

PRODUCT LIFE CYCLE

Introduction

Growth

?

?

GROWTH STAGE OF PLC

SALES

COST

PROFIT

MARKETING

OBJECTIVES

PRODUCT

PRICE

DISTRIBUTION

ADVERTISING

MARKETING STRATEGIES USED IN GROWTH STAGE

• Improve product quality and add new product features and

styling.

• Add new models and products of different sizes, color,

shapes etc.

• Enter new market segments.

• Increase distribution coverage, enter new distribution

channels.

• Shift from product awareness to product preference

advertising.

PRODUCT LIFE CYCLE

Introduction

Growth

Maturity

?

MATURITY STAGE OF PLC

SALES

COST

PROFIT

MARKETING

OBJECTIVES

PRODUCT

PRICE

DISTRIBUTION

ADVERTISING

MARKETING STRATEGIES USED IN MATURITY STAGE

•Market

Modification

•Product

Modification

PRODUCT LIFE CYCLE

Introduction

Growth

Maturity

Decline

DECLINE STAGE OF PLC

SALES

COST

PROFIT

MARKETING

OBJECTIVES

PRODUCT

PRICE

DISTRIBUTION

ADVERTISING

MARKETING STRATEGIES USED IN DECLINING STAGE

• Increase the firms investments to dominate the market

•Maintain the firms investment level until the uncertainties

about the industry are resolved.

•Decrease the firms investment selectively by dropping

the unprofitable customers group.

•Harvesting the firms investment to recover cash quickly.

THANK YOU