immense pressure to improve its practices to minimize waste which causes

Immense pressure to improve its practices to minimize

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immense pressure to improve its practices to minimize waste, which causes environmental pollution. 15. What are the 4 stages of the Product Life Cycle? I ntroduction - The introduction phase is the period where a new product is first introduced into the market. This typically requires a lot of resources and finances. As a result, many companies, start-ups especially, are practicing a new approach to product development known as The Lean Approach. The introduction phase is usually associated with slower growth as the public is not familiar with the product, the sellers may not be adequately trained to sell, and clear and definite distribution channels are yet to be established. Demand for the product is also quite immature at this stage. Growth - The growth phase is when your product starts to sell at a much faster rate. The public is becoming increasingly aware of your product and word of mouth is starting to spread. The product’s capabilities are now recognised and product development has matured (the rate at which you’re changing your offering slows).
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Maturity - The maturity phase is when your product’s sales begin to peak. Demand is strong and the service is now booking out. Very soon, the product will begin to compete with new alternatives being introduced into the market. Decline - The decline phase refers to the period when the product reaches its saturation point. In this case, the price can start increasing, though the number of sales will decline. In this phase, a decision is needed: whether to continue with the product with significant changes or to move onto another product altogether. 16. What stage would McDonald be in on the Product Life Cycle? Why? McDonald’s is in the market maturity stage of the product life cycle. McDonald’s is one of the most recognized, best-known brands worldwide and the world’s leading global foodservice retailer with over 37,000 locations in over 120 markets. It’s the world’s largest hamburger and fast-food chain of restaurants serving a base of about fifty million customers daily. The maturity stage is the longest stage of the product life cycle. In this stage, sales growth begins to decline, and also the company reaches the highest point in the demand cycle. In this stage the competition may appear with similar products, like Burger King for example. So primarily they have to defend its market share and try to maximize profits. 17. Undertake a Value-Chain Analysis of McDonalds. Primary Activities Inbound logistics Operations - McDonald’s operates Company-owned and franchised restaurants. About 80% of McDonald’s restaurants are owned and operated by independent franchisees. McDonald’s franchise restaurants have one of the following formats: conventional franchise, developmental license or affiliate.
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