Major Phases Of A Product Life Cycle Stages

2397 WordsNov 27, 201610 Pages
Chapter 8 7. Is a well-known brand valuable only to the owner of the brand? A well-known brand it not only valuable to the owner of the brand. Some consumers may derive satisfaction by using the product, thus making the brand valuable to them. Also, wholesalers and retailers who handle the product may find it more profitable because of the demand for the product, thus making it valuable to them. Chapter 9 2. Cite two examples of products that you think are currently in each of the product life-cycle stages. Consider services as well as physical goods. Products pass through four phases of life. The four phases of a products life cycle are: 1. Introduction stage -This is the stage where products are designed, developed and introduced to the market. 2. Growth stage - In this stage, sales and profits start to grow as company gains economic scale of production and marketing. 3. Maturity stage - in this stage the market for company’s product saturate and company reaches the threshold level of profit and sales. 4. Decline stage – in this stage the company’s market for products begin to shrink. Companies experience a decline in sales and profit. One example of a company in each of the stages would be Samsung mobile. 1. Introduction stage – in this stage Samsung designs, develops and introduces a new series of their mobile phone. 2. Growth stage – in this stage Samsung incorporates and modifies their basic model with better features, thus launching the touch screen model phones.
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