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Chapter 5 Product Life-cycle

Chapter 5 Product Life-cycle. The Best Way to hold customers is to constantly figure out how to give them more or less. The learning objectives. Product Product classification Product life-cycle strategies. What is product?.

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Chapter 5 Product Life-cycle

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  1. Chapter 5 Product Life-cycle • The Best Way to hold customers is to constantly figure out how to give them more or less.

  2. The learning objectives • Product • Product classification • Product life-cycle strategies

  3. What is product? • Anything that can be offered to a market for attention,acquisition,use,or consumption that might satisfy a want or need.

  4. Service and Experience • Service—Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

  5. Discussion • Disney • starbucks

  6. Levels of Product • Core product • Actual product • Augmented product

  7. Core product • Core benefit or service

  8. Actual product • Quality level • Features • Design • Package • Brand name

  9. Augmented product • Installation • After-sale service • Warranty • Delivery and credit • Attached benefit

  10. Product classifications • Consumer products • Industrial product • Organizations, persons, places, and ideas

  11. Consumer product • Convenience products • Shopping products • Specialty • unsought

  12. Industrial Product • Material and parts • Capital items • Supplies and services

  13. Product Life Cycles (PLC) • The course of a product’s sale and profit over it lifetime.It involves five distinct stages:product development,introduction,growth,maturity,and decline.

  14. Introduction stage • The product life-cycle stage in which the new product is first distributed and made available for purchase.

  15. Growth stage • The product life-cycle stage in which a product’s sales start climbing quickly.

  16. Maturity stage • The stage in the product life cycle in which sales growth slows or levels off. • Modify the market,the product,and the marketing mix.

  17. Decline Stage • The product life cycle stage in which a product’s sales decline

  18. Discussion • Please list the marketing objectives and strategies for each stage. • 2.what strategic option are open to the marketers of products in the mature stage of the product life cycle? • 3.which product life-cycle stage, if any,is the most important?which stage is riskiest?which stage appears to hold the greatest profit potential? Be certain to explain the thinking behind each of your answer.

  19. The international PLC

  20. Assignment • Case study : Biofoam: not just peanuts(P239)

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