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Week 6_life circle management analysis(2)

Week 6_life circle management analysis(2) - Life Cycle...

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Life Cycle Management Analysis Trang Fay Axia College of University of Phoenix
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Any product in the marketplace has a life cycle. It means a product will go through four stages “introduction, growth, maturity, and decline.” To maximize the profit of product, the marketers need to understand how a product changes over its lifetime so they can suggest the right marketing strategies to accomplish the goal. IPod is a product of Apple. It is considered a revolution of the digital audio player. Today, it has sold over 220,000,000 units all over the world. Making it the best selling digital audio player in history. Is this number going to continue to climb up or will it decline soon? Let’s take a closer look to find out the life cycle of iPod. First, we need to know what kind of product iPod is, whether it is an individual product or a product line. Therefore, the marketers can suggest the right marketing strategies for each stage of the life cycle of product. IPod is a product line. The Apple expanded the product by stretching the iPod product in two ways. There are four models which are the Tough, Classic, Nano, and Schuffle. Each one has it own price to satisfy a single need of a group target customers. The prices rank between from $50 to $500. Moreover, Apple did a significant design for the iPod. It is a pocket size, easy to use, and eye-catching. Late in 2001, Apple introduced its new product with a mysterious of announcement “It is not Mac”. So what was it? It was just a portable audio player for MP3. However, it was not “just” simply like that. It was something else unlike the previous MP3 players such as Walk-man of Sony, or flash memory based MP3 player of Rio. IPod was a revolution in digital music player. It included a hardware consisting of thousand of songs, movies, and pictures. It had higher resolution display
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