Product Life Cycle : Product Cycle Essay

1389 Words6 Pages
Product Life Cycle 1. Provide an example of a product that is at the introduction stage of the product life cycle. Introduction Stage – This stage of the cycle sees the manufacturer conceptualizing its products and submitting it to the market. This, being done with the common business understanding of meeting the demands of the consumer’s requirements, calls for the manufacturer to devise products that are of high quality to enable it to equally compete in the existing market (Grantham, 1997). Likewise, in as much as the product has to be of equal standards to those already in the market, the manufacturer have to ensure that its price range is equally affordable if not cheaper than the products in the market. Done with the intention of enabling an organization realize profit in the highest level possible, the manufacturer has to keep in mind that upon its inception into the market, the product could be the most expensive to be launched (Hedden, 1997). The challenge associated with introduction does not guarantee an organization a market position and as such, its market might be in its minimal, translating to the fact that its sales will be low upon introduction and increase as the product gets familiarity with consumers in the market (Kumar, Sameer, and William, 2005). An example of such a product is the 3D television sets. 2. Provide an example of a product that is at the growth stage of the product life cycle. Growth Stage – This stage comes after the manufacturer has
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