Product Life Cycle

Semester 2 Types of PLC

Marketing Management
Marketing for PLC Stages
Part 2
Product Life Cycle

Introduction Growth Maturity Decline

Volume

Time
Product Life Cycle – Time objective

Introduction Growth Maturity Decline

Minimize Minimize Maximize Maximize

Time Time Time Time
Volume

Time
Product Life Cycle – Segment, Motivation,
Challenges

Introduction Growth Maturity Decline

Innovators Early Late Laggards

Adopters Adopters

“I want the “I want the “I want the “I don’t want

latest” best” tried & tested” any change”
Volume

“Is it really “Is it worth “Are there any “I’ve got

something the hype?” options?” better
new?” options”

Time
Product Life Cycle – Marketing Objectives

Introduction Growth Maturity Decline

Educate Promote Incentivise Maintain

Volume

Concept Benefits Product / Legacy

Selling Selling Price / Service Consolidation
Promotions

Time
Product Life Cycle – Brand & Pricing Objectives

Introduction Growth Maturity Decline

Brand + Brand + Promotions & Channel

Product Differentiation Alliances Communication
Volume

Market Add-On Volume Maintenance

Skimming Discounts Discounts Pricing

Time