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The Product Life Cycle

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Presentation Transcript

  1. Slide 1: Product Life Cycle • This is the stages a product goes through during its life. Products do not always last for ever eg platform shoes are not fashionable now and are not sold www.mrmcgowan.blogspot.com
  2. Slide 7: Stages of the Product Life Cycle • Introduction – when the product first comes onto the market • Growth – when the sales are going up • Maturity – when you have reached all the people who will buy your product • Decline – when your product starts to lose customers – falls out of fashion
  3. Slide 8: The Product Life Cycle Time
  4. Slide 9: Increasing the product life • Change the product slightly – Coca Cola brought out diet coke, caffeine free etc • Change where you sell your product e.g. set up a website and sell on the internet • Advertising campaigns – reminds people about your product • Change your price – maybe have a special offer on one of your products