Product Life Cycle : What's the Stage
Oakville Hardware store has been around for years, but it just can't compete with newer, bigger stores like Lowe's and Home Depot. Its owners have decided to close immediately and sell the remaining inventory to a liquidation company.
decline stage
The Edge is a cell phone that only provides talk and text abilities. It's not selling well, so marketers are slowly phasing it out. They've stopped promoting it but will sell it until the inventory is gone.
decline stage
Maya is a clothing designer, and her new line of jeans is becoming more popular by the day. Sales are increasing, profits are rising, and stores are scrambling to carry the line.
growth stage
Penny's Pizza opened to rave reviews from the community. Sales are climbing, and every Friday and Saturday night, there are lines out the door to get in! Penny has decided to expand her menu and keep prices the same to boost profits.
growth stage
Bryan has just invented a new type of dog collar with a built-in GPS tracking device. He is marketing it to dog owners who are "crazy" about their pets, using a skimming strategy (setting prices high) and distributing through high-end pet stores
introduction stage
Game World is a new kind of arcade featuring the latest and most popular video games. Gamers will be able to join leagues and play against each other in a fun atmosphere with a snack bar, billiards area, etc. To encourage customers to check it out, marketers are spending a lot of money on advertisements and offering low prices during the opening week
introduction stage
Nita's Nail Salon has been in business for a long time. She is beginning to think that local customers don't see her salon as being different or better than other salons in the area. She's decided to start bundling some of her services, creating manicure/pedicure packages and selling nail-care sets.
maturity stage
Super Suds is a brand of laundry detergent that has been on the market for many years. Its marketers just updated its packaging, and they have been offering buy-one-get-one-free coupons in the local papers.
maturity stage