P RODUCT L IFE C YCLE Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological...
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Transcript of P RODUCT L IFE C YCLE Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological...
![Page 1: P RODUCT L IFE C YCLE Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological Sciences University of Dhaka Fisheries Marketing(AF-408)](https://reader036.fdocuments.net/reader036/viewer/2022081907/5514490a5503462d4e8b4d27/html5/thumbnails/1.jpg)
PRODUCT LIFE CYCLE
Mohammad Shamsur RahmanLecturerDepartment of FisheriesFaculty of Biological Sciences
University of Dhaka
Fisheries Marketing(AF-408)
![Page 2: P RODUCT L IFE C YCLE Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological Sciences University of Dhaka Fisheries Marketing(AF-408)](https://reader036.fdocuments.net/reader036/viewer/2022081907/5514490a5503462d4e8b4d27/html5/thumbnails/2.jpg)
What is product life cycle?
Life cycle stages
Management strategies in different life cycle stages
Product life cycle….
MAJOR HEADS
![Page 3: P RODUCT L IFE C YCLE Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological Sciences University of Dhaka Fisheries Marketing(AF-408)](https://reader036.fdocuments.net/reader036/viewer/2022081907/5514490a5503462d4e8b4d27/html5/thumbnails/3.jpg)
What is product life cycle?
Every product has a life cycle
Definition: A marketing theory in which products or brands follow a sequence of stages including : introduction, growth, maturity, and sales decline.
Product life cycle….
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Four things in mind
1) products have a limited life
2) sales has distinct stages- with challenges, opportunities, problems
3) profits rise and fall at stages
4) products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each stage
Product life cycle….
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Pre Introduction stage: Product development stage
Stage-1:Market introduction stageStage-2: Growth stage
Stage-3: Mature stageStage-4: Saturation and decline stage
Life cycle stages
Product life cycle….
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Figure: Product life cycle stages
Product life cycle….
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INTRODUCTION
GROWTH MATURITY DECLINE
Third generation mobile phones
Portable DVD Players
Personal Computers
Typewriters
E-conferencing Email FaxesHandwritten letters
All-in-one racing skin-suits
Breathable synthetic fabrics
Cotton t-shirts Shell Suits
iris-based personal identity cards
Smart cards Credit cardsCheque books
EXAMPLES:
Product life cycle….
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Management strategies in
each life cycle stages
Product life cycle….
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cost high
sales volume low
no/little competition - competitive manufacturers watch for acceptance/segment growth losses
demand has to be created
customers have to be prompted to try the product
Stage-1:Market introduction stageProduct life cycle….
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costs reduced due to economies of scale
sales volume increases significantly
profitability
public awareness
competition begins to increase with a few new players in establishing market prices to maximize market share
Product life cycle….Stage-2: Growth stage
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no need for publicity
sales volume peaks increase in competitive offerings
prices tend to drop due to the proliferation of competing products
brand differentiation, feature diversification Industrial profits go down
Stage-3: Mature stage
Product life cycle….
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costs become counter-optimal
sales volume decline or stabilize
prices, profitability diminish
profit becomes more a challenge of production/distribution efficiency than increased sales
Stage-4: Saturation and decline stage
Product life cycle….
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Product life cycle….
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?
Q & AProduct life cycle….