Professional Documents
Culture Documents
Product l2
Product l2
Level
Objectives:
Define the product life cycle
E-D
C-B
A-A*
Starter
Can you think of any specific products that have not changed over the last 50 years?
Introduction
Growth Maturity
Decline
Extension Strategy or Termination
Sales ()
Time
Think of 4 products that have a very short life cycle. Think of 4 products that have a very long life cycle.
Place the following products where you feel they are on the product life cycle:
Development Introduction
Growth
Maturity
Decline
Sales ()
Time
Decline
Sales ()
Extension Strategy
Time
Extension Strategies
Aim of marketing is to keep up the maturity level of sales for as long as possible. Sales can be increased using product development this is used to extend the life of the product.
Products can also be extended by changing any element of the marketing mix.
30 seconds to define the product life cycle and list the 5 stages
time up!
One Direction
Outline 3 reasons as to why One Directions debut single was unlikely to make a profit when it was first launched.
Outline 3 reasons why One Directions debut single was unlikely to make a profit when first launched
Initial development costs of the single, such as CD design and manufacture would need to be covered before the single is profitable Initial promotional costs will have been very high when the single was released meaning the single is unlikely to make a profit in early stages
1
2 3
Low download price would mean less revenue to cover costs in the early stages of the lifecycle
One Direction
At which stage of the product life cycle was their debut album most likely to make profit?
X-Factor
Where would you place the X-Factor on the product life cycle?
X-Factor
Outline two reasons that the X-Factor may have experienced decline.
Familiarity with the format. The X Factor has been going now for 8 years with very little change
List 3 ways in which ANY business can extend the life cycle of its product.
Reduce the price of its products Increase promotional spend/ methods Trying to find new customers/ markets
1
2 3
Plenary
Do products always enter the decline phase of the product life cycle?