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Cycle of Life

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Life Cycle A product life cycle is a cycle that all products go through from introduction through demise and possible rebirth. There are five stages to the product life cycle: embryo, growth, maturity, decline, and although rare, rebirth. Each of the five stages is a mixture of product, pricing, distribution and promotion. The embryo stage aka introduction stage of the product life cycle is where a new product is launched into market. During this stage there is heavy marketing, product promotion, limited supply and sales are slow and difficult. Manufactures spend a lot to “educate” the public. In this stage the goal is to let people know of the new product and not primarily to make money. Electric cars and hybrids are definitely innovative and appealing. Consumers could not have known that gas was not the only way to fuel your car. Pass or play. Introduction was a success. In the growth stage, the market has accepted the product. Marketing efforts have boosted sales beyond original target market, therefore brand loyalty starts to build and sales increase, as do costs, including staffing. The good news is that profits increase because greater quantities are produced, lowering the cost per unit. The downside is current manufacturing facilities and equipment may not be able to keep up with demand. The Amazon kindle is currently in the growth stage. The idea of having hand-held technology larger than a smart phone but smaller than a full-sized tablet is new. The third life cycle stage can be challenging. After the first two stages, a product passes into the maturity stage and sales reach their peak. However, during maturity, the primary focus for most companies is maintaining their market share in the face of a number of different challenges. Although laptop computers have been around for several years, more advanced components and diverse…...

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