Betch, Mackiyo D.

10-19-2018
Georgiou, Steven T.
Padrigon, Vincent Clark A.
Taino, Femverly S.

Product Life Cycle

1. Market Introduction - in this stage, costs are high for product
promotions because we have to achieve product awareness and to
identify our market. This is where we have established branding and
quality level of our product, and protection of our brand by attaining our
own trademarks and patents. Our prices are affordable, for consumers
to recognize our products easily. But our first target market would be
relatively small since we are still introducing our product to the
consumers.

2. Market Growth - this is the stage wherein improvements can be

seen. At this time consumers recognize our product and sales have
increased. The relatively small market is expanded to a more mass
market. Our company would now have an overall increase in profit but
still can decline due to competitors lurking with the same product idea
we have. We aim to establish brand preference among consumers.

3. Market Maturity – this is where competitions are hard and tough,

ideas that our products are the same with other competitors have
reached the consumers mind and so prices are at war, promotions and
other strategies to stay above the competition must be carefully
planned. We aim to promote our product differently, we will dive into
different variations of our product to establish market differentiation that
would give us a strong presence among competitors and be able to
continue our products securely.

4. Sales Decline – because of aiming for market differentiation we

intend to continue our product, adding modifications or features that
might still entice our consumers. If our consumers decrease, we would
switch to less expensive production methods in order to balance the
declining of consumers. Price sensitivity is still at high, new product
ideas by competitors may come up as well, but the diversity and
improvements of our products would welcome new consumers, still
bringing profits that would be able for us to keep up in the competition.