PRODUCT LIFE CYCLE

It are often useful from a selling purpose of read to outline the kind of promoting conceive to
be used to spot distinct phases of the merchandise life cycle. the merchandise lifecycle consists
of 4 key steps – begin, expand, mature and reduce.
1. Introductory section selling
2. Growth section selling
3. Maturity section selling
4. Decline section selling
Cloud-based services will give Product lifecycle management and facilitate makers manage the
whole product lifecycle and deliver high-quality product on time and beneath budget. PLM
computer code solutions were originally designed as client/server solutions that required to be
put in at the OEMs web site. On-premises PLM solutions conjointly need a costlier and time-
intensive system integration for MCAD, EDA, CRM, and ERP solutions.

Application of Cloud Service Provider on Product Life cycle

Introductory Phase Marketing

For a cloud-based service, the idea to create the product was to improve and develop business
through the advancement of providing access to servers. It can hold documents and information
that help in running the day-to-day workings of the company or business of course this comes
at low cost which in turn helps in running a smooth and faster outcome when it comes to using
Cloud services in running a business. This is the first part of a product life cycle when it comes
to Cloud-based service, identifying the source and determining the usage of the product, Once
the idea is determined and the product is launched, it is to be made sure that the product is seen
in the market mainly through blogs and sites, in this case, the reputation of providing a good
service when it comes to providing a smooth server usage for other business to run, which in
turn will help the product be seen by other big companies and adding a reasonable low cost can
help the product be seen.

Growth Phase Marketing

A successful inbound marketing approach could launch the next stage of growth at this stage.At
this level, we face the problem of threatening increased competition, reducing prices and using
expansion to optimise your company's earnings. In the case of a cloud-based service providing
business, reaching customers would be the aim and battling through the competition with new
advancements in your product and analysing the defects of your competitors and working on
them to bring what they do not possess in their product. The key segment on creating an official
website for the company is the perfect platform to give the perspective of the company to clients
which will be the optimal strategy at a growing stage.
Maturity Phase Marketing
A product that has passed the launch and reached a certain growth in the market is called a
matured product the product has matured the ideal inbound marketing techniques are those that
incentivize customers to stay loyal. These include launching promotional campaigns, discounts
to loyal customers and identifying new distribution channels to sustain sale volumes. From a
company's standpoint, this is the ideal time to initiate research and development of new
products to continue growth, and also a key factor would be to update your software that can
help to keep up with technological advancement in computers.

Decline Phase Marketing

At this stage, the optimal inbound marketing plan is to integrate your campaign into your
newer, improved product campaign. This helps your existing customers to become aware of
the value of the new product. It is not sensitive to switch off the product promptly for the
product to decrease. This not only could annoy existing clients but could also create confidence
problems with your newer clients. Marketing inbound is not permanent. Customers' pain points
alter constantly. In this phase, the product life cycle is a fact and the incoming media strategy
of a company should be regulated by the phase of your life cycle. And so, putting down or
shutting down one product and introducing a new product will help the company sustain its
customers by running the company based on how it started and introducing something new to
the market as well.

Conclusion:
There are also three segments of cloud-based technology, software as a service (SaaS), platform
as a service (PaaS), and infrastructure as a service (IaaS). Each has their implementations but
the most prominent factors when it comes to B2B is Software as a service (SaaS) and Platform
as a service (PaaS), and this cloud-based service is most related to Marketing theories like:
1. Research
2. Niche-driven Strategy
When it comes to research, the product is purely and can be introduced properly into the market
based on proper research and valid proof to justify the need for a cloud-based service, and it
does, as the word is digitalizing it is important to get in touch with cloud systems and especially
with the new “WFH” (Work From Home) which is made possible only through online servers
running the company, Now it would be very effective if a server or cloud-based service product
or business is introduced at this time as the market has a big scope for it during the pandemic
situation. For the product to be Niche based, SAAS and PAAS types of service can be mainly
focused on business as their customer or used, so it is possible and is been done by prioritising
the customer in other words advertising strategy that focuses on a unique target market.

NIKHIL V
20MBA1054