Product Life Cycle
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Curipod generated lesson: "Product Life Cycle". #11-13
dlibera
Updated 3 months ago
1. Word cloud
120 seconds
What is the product life cycle?
2. Slide
60 seconds
Product Life Cycle is the stages a product goes through from its introduction to the market until it is removed. It is divided into four stages: Introduction, Growth, Maturity and Decline. Understanding the life cycle of a product helps marketers plan their strategies to maximize profit.
Product Life Cycle
3. Slide
60 seconds
Product Introduction: The first stage of the product life cycle when a product is launched in the market and made available for sale. Product Growth: The second stage of the product life cycle when sales of the product increase and profits begin to grow. Product Maturity: The third stage of the product life cycle when sales of the product begin to slow down and profits start to decline.
Concepts:
4. Slide
60 seconds
Product Life Cycle
5. Slide
60 seconds
Introduction Stage
6. Slide
60 seconds
Maturity Stage
7. Slide
60 seconds
Decline Stage
8. Poll
60 seconds
What stage of the product life cycle do you think is most important?
- Development
- Introduction
- Growth
- Maturity
- Decline
9. Slide
60 seconds
The Product Life Cycle theory was first introduced by the American economist Raymond Vernon in 1966. Product Life Cycle is a business analysis tool used to forecast the future of a product, service or brand. Product Life Cycle stages do not have to be equal in duration - some can be shorter or longer than others.
Did you know?
10. Open question
300 seconds
What is the difference between the product life cycle in a developed country versus a developing country?
11. Open question
300 seconds
What strategies can companies use to extend the life cycle of their products?
12. Open question
300 seconds
What challenges have you faced in the life cycle of a product you have used or been involved with?
13. Open question
300 seconds
What benefits have you seen in a product that has gone through the full life cycle?
Made with ❤️ from Norway