DQ’s must address ALL aspects of the question and be at least 175 words.
Respond to the following in a minimum of 175 words:
Discuss what the product life cycle is (PLC).
Select a product you are familiar with. Based on this weeks materials on the product life cycle, what stage is it currently in?
What led you to conclude it was in this stage?
What types of changes will most likely occur to your selected product as it continues through the product life cycle?
How will this affect the marketing of your selected product?
At least 2 peer replies worth 10 points each for a total of 20 points possible.
Peer replies must be 75 – 100 words .
Julaine
The product life cycle (PLC) is a framework that depicts the stages a product goes through in the market, from its introduction to its eventual removal. There are typically four main stages in the PLC are Introduction, Growth, Maturity and Decline. It’s important to note that the PLC is a simplified model, and the length of each stage can vary depending on the product. Some products may have a very short life cycle, while others may stay in the maturity stage for many years.
Taking the iPhone as an example, it’s likely in the maturity stage. While still a major seller, its sales growth has slowed, and it faces increased competition from other high-end smartphones. Slowed sales growth compared to the initial explosive growth after its introduction, iPhone sales growth has plateaued in recent years.
As the iPhone matures in the product life cycle, it’s likely to experience a gradual decline in sales volume. This could lead Apple to focus on selling previous models at lower price points to reach new market segments. Marketing will likely shift to emphasize the value proposition of the iPhone compared to competitors, highlighting the benefits of the Apple ecosystem and user experience. One might see more emphasis on upgrade programs, trade-in offers, and bundled services to make iPhones more attractive.
Additionally, the iPhone’s marketing will likely adapt to a more value-driven approach, focusing on retaining existing users and attracting new buyers through strategic pricing and targeted campaigns.
Brittney
The product of life (PLC) is the length of time from when a product is introduced to consumers to the time it is took off of the shelves. The product of life helps analyze how well a product did from development to the decline. The product of life is broken down into four stages and the first stage is introduction. The introduction stage is when a product is launched. The second stage is growth, and this is where companies see a higher revenue, increase is sales, and profits. The third stage is maturity, and this is where many consumers have accepted the product, but competitors have entered the race, growth has slowed down. During this stage the product has got the highest sales, and profits. The final phase is decline, and in this stage the products demand decreases, and the popularity has decreased. Basically, the product is slowly disappearing from shelves.
A product that I am very similar with is an Apple iPhone. I have had one since the first one came out. Apple comes out with a new iPhone every year but with new key features on it. I believe the iPhone is in the maturity stage of the product of life. The reason I believe it is in the 4th stage of PLC is because they have established their market presence, and they always release a new iPhone, and they are getting to where prices are stability, and they are focusing on new key features. And they are always doing minor changes to the iPhone each year, but they have stability and market saturation. Product differentiation has played a huge part in this stage, because newer cameras and faster processors, and the consumers have accepted the iPhone into the market. There are some really old iPhones they have never really vanished. They will make them faster, the cameras will always continue to improve, bigger storage, the colors, the size always plays a factor. It will always hype of the new iPhone coming out in September because Apple has made a name in th
