ts market offerings with changing consumer needs and tas tes In difficult times

Ts market offerings with changing consumer needs and

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ts market offerings with changing consumer needs and tas tes. In difficult times, innovation more often helps than hurts i n making the company more competitive and positioning it better for the future.
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Product Life-Cycle Strategies The product life cycle (PLC) has five distinct stages: Introduction Growth Maturity Decline Product development Product Develop- ment Introduction Growth Maturity Decline It begins when the company finds and develops a new-product idea. During product development, sales are zero, and the company’s investment costs mount. It is a period of slow sales growth as the product is introduced in the market. Profits are nonexistent in this stage because of the heavy expenses of product introduction. It is a period of rapid market acceptance and increasing profits. It is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increased marketing out lays to defend the product against competition. It is the period when sales fall off and profits drop.
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Product Life-Cycle Strategies Style It is a basic and distinctive mode of expression Fashion It is a currently accepted or popular style in a given field. Fad It is a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.
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Decline Stage Sales may plunge to zero, or they may drop to a low level where they continue for many years. This is the decline st age.
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  • Spring '11
  • Fareeha

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