A product is almost a living creature. It has its traits, strong sides, and flaws. But most importantly, it goes through a unique, unprecedented, and unrepeatable lifecycle. Each stage of this timeline requires particular marketing strategies. That’s why product lifecycle analysis is so critical.
🔝 Top-10 Product Lifecycle Analysis Example Essays
- The Chocolala Company New Product Development
- Emaar Marketing Strategy for International Expansion
- Product Development Life Cycle Phases
- WD-40 Company Strategic Marketing Analysis
- Vodafone Company's Global Strategy and Mission
- Business Growth and Opportunity Strategies
- Emirates Airline Business Strategy
- Marketing Platform Principles
- Supply Chain Management: Collaboration and Logistics
- Hybrid Electric Cars Marketing Mix
🔃 What Is a Product Lifecycle?
A product lifecycle is a period between a product entering and leaving the market. Some products manage to remain afloat in a prolonged maturity period. But its exit is inevitable due to a decrease in demand, competition, or drop in sales. Read on to learn the four stages of the process.
What Are the Four Stages in the Product Life Cycle?
- Introduction. A newly developed product enters the market. The stakes are high but still not decisive for a successful outcome. It is a marketing-intense stage, as companies need to create a demand.
- Growth. Provided the advertising campaign was successful, more people learn of the product. Consumers take action. High competition can make the company cut prices and pour more funds into marketing.
- Maturity. The market approaches saturation, and the sales gradually decrease. Profit margins get lower as companies use lower prices as a competitive benefit. The introduction of an altered product can save the day.
- Decline. The sales finally drop as the demand and consumer behavior change. Competition deteriorates, and the product loses its share in marketing. The stage concludes with product retirement.
Some marketing theory includes extracting resources and manufacturing into each product life cycle analysis example. This approach allows the evaluation of product sustainability and ecological impact.
🔬 What Is a Product Lifecycle Analysis?
Theodore Levitt, a Harvard Business school professor, developed a product lifecycle analysis. He suggested a universal template applicable to any sold item. In addition to the four steps above, he considered product development a prequel stage.
A product lifecycle analysis is a marketing study researching the critical success factors of a product. But most importantly, it explores the competition and demand at each stage and their implications.
What Is the Purpose of a Product Lifecycle Analysis?
The purpose of a product lifecycle analysis is to describe the benefits and limitations of a product, given the current situation in the market. It optimizes marketing investments and allows for making well-informed managerial decisions. Finally, the method prepares companies to face and withstand competition.
Essay on Product Life Cycle: What Is It About?
One of the ideas for a product life cycle essay is to analyze the factors affecting the product’s presence in the market. Some will blow wind into your sails, while others may hinder your success. So, which factors influence any product lifecycle?
|🏆 Competition||Competitive markets are the hardest to enter and win the clients’ attention. The transition from the introduction to the growth stage will be challenging. But if your product becomes well-established in such a market, its lifecycle will be much longer than in a market with lower entry barriers.|
|📊 Economic forces||A global pandemic, international conflict, recession, and other force majeure events are outside your control. They introduce dramatic changes in customer behavior and preferences. However, a well-managed product lifecycle strategy can extend your product’s growth and maturity.|
|🤖 Technology advancements||Low flexibility in terms of technology is the most significant disadvantage a company may face. Just recall how quickly push-button phones became a thing of the past. Robots and automation replace manual reproductive labor, and well-paid jobs are becoming more creative than ever. Companies investing in new technologies rule the market.|
|💰 Cost of labor and raw materials||Although these two factors rarely change overnight, they should still be considered in terms of pricing. Will you earn enough to cover these expenses, as well as other costs?|
We hope that the theory outlined above will help you produce a perfect paper. Check more product life cycle analysis examples collected below on the web page.
📝 Product Lifecycle Analysis Research Paper Examples
- Procter & Gamble Company's Production Management ProcessBusiness essay sample: The Time Series approach, in its turn, can be considered a good tool for identifying the patterns in P&G’s performance so that a forecast could be drawn later on.
- The Hershey Company's Marketing StrategyBusiness essay sample: This report analyzes Hershey's from the view of marketing strategy, discussing marketing mix, consumer buying behavior and branding, and the product lifecycle.
- Product Life Cycle: Term DefinitionBusiness essay sample: Product life cycle in this case is taken to mean the succession of the many varying stages by which a product is said to undergo through.
- Management Product Life CycleBusiness essay sample: For several decades, the product life cycle model has been very popular in management. Companies adopt this concept as a core of business operations and product management.
- The Product Life Cycle in Management SuccessBusiness essay sample: A product’s life cycle has many phrases and involves many professional disciplines, and requires many skills, tools, and processes.
- The Product Life Cycle in Business AreaBusiness essay sample: This paper critically evaluates the literature that supports and criticises the Product Life Cycle concept and gives a balanced argument using case examples.
- Revlon Company Strategic ManagementBusiness essay sample: This study identifies whether the Russian market is a viable multinational expansion point for Revlon by taking an in-depth look into the Russian market.
- Operations Management: How to Idealize Your Operations StrategyBusiness essay sample: To idealize operations strategy, we need to first think about its two major components- operations and strategy.
- IBM’s Market Management Strategy’s EvolutionBusiness essay sample: In the past two decades, International Business Machines (IBM) recorded a remarkable growth driven by broad-based software and hardware services.
- Marketing Aspects Based on the Cruiser Thorr SimulationBusiness essay sample: The repositioning of the Thorr products in the simulation is suggesting the feasibility of the assembled marketing strategy basing on the implications of the simulation.
- Planning and Developing a New ProductBusiness essay sample: Planning and development are important preliminary steps that account for a major part of success before the product reaches its market.
- Furniture Company: Marketing Research and EnhancementBusiness essay sample: This report identifies the future changes in the trends of the furniture market and also recommends possible strategies which can be helpful to recover from this situation.
- "Global Marketing Management" by Kotabe and Helsen Book SummaryBusiness essay sample: Marketing management is a field in business that puts into practice the theoretical approaches that an organization can embrace to make known its products in the market.
- Frito-Lay and Cracker Jack: Case AnalysisBusiness essay sample: This paper has centered to represent an analysis and examination of the merger between Frito-Lay and Cracker Jack, and an investigation of whether it would be successful or not.
- Developing and Introducing a New ProductBusiness essay sample: The new product development is the ultimate product as a result of the analyzing, designing, developing and brainstorming of the ideas and creativity.
- Coca-Cola: Product Development AnalysisBusiness essay sample: This paper aims at analyzing some of the reasons that have made some products successful while others fail to gain market.
- Product Life Cycle StagesBusiness essay sample: The four factors which variably characterize every stage of the product cycle are products name or brand, the price, its distributive criteria and product promotion.
- Female Economy. Case StudyBusiness essay sample: This paper seeks to address the key issues that arise in the Female Economy and how companies can improve their approach regarding women.
- Apple iPod Product's Marketing Audit & ManagementBusiness essay sample: This report is an audit carried out on iPod, it contains within it sections like a brief introduction of Apple, the evaluation, or the analysis of the situation.
- A Notebook Computer in Huawei’s Product PortfolioBusiness essay sample: The study assesses the market condition of notebook computers and tries to generate an idea for introducing notebook computers in Huawei’s current product portfolio.
- Procter & Gamble Co.'s Marketing PlanBusiness essay sample: The mass market is what drives the sales of P&G consumer products. This explains why the company targets chain stores like Wal-Mart.
- MyBank: The Aspect of Change ManagementBusiness essay sample: MyBank have survived the wave of market competition and economic recession through strategically positioning themselves to accept and embrace continuous change in work culture.
- Using Perceptual Maps in Market SimulationBusiness essay sample: To ensure that sales revenue of products is increased, it is necessary to consider the product situation and include the necessary parameters to be used in the marketing strategy.
- Wal-Mart Product Design and Decision MakingBusiness essay sample: Product design and decision-making are critical for the success of any company. Wal-Mart leadership has emphasized “in innovation” to bring new products ‘which consumer need’.
- Smart Thermostats Are People’s Efficiency and ComfortBusiness essay sample: Smart thermostats are gaining momentum due to people’s search for efficiency and comfort. It is necessary to make the product more user-friendly by improving the interface.
- Tesla’s Disruptive Business in the Context of Marketing ManagementBusiness essay sample: Tesla engages in direct communication with its customers on all levels, including its CEO, which enables a better understanding of the market’s requirements.
- Domino’s Pizza Firm’s Operational ManagementBusiness essay sample: This report presents an analysis of the operational management of Domino’s Pizza enterprise. It elaborates on the key strategies and functional issues that affect the business.
- Design of Goods and ServicesBusiness essay sample: Mcdonald's has had to consider different issues in their product development to ensure they maintain a competitive advantage in the market.
- Kodak Company's Strategic Issue and SolutionBusiness essay sample: Kodak had some excellent ideas for capturing new markets through innovation; however, the leadership likely dismissed such thoughts due to the limitations in the mindset.
- Johnson & Johnson Pharmaceutical Company's AnalysisBusiness essay sample: The paper analyzes the market environment for Johnson & Johnson pharmaceutical products and assesses how the company can differentiate itself from competitors.
- Starbucks Company's Marketing Stage AnalysisBusiness essay sample: The paper determines the marketing stage of Starbucks Company, and classification based on the Boston Consulting Group Matrix and Ansoff product-market matrix.
- The Significance of Carbon Disclosure Project on Supply Chain and Life CycleBusiness essay sample: Carbon disclosures play significant roles for various organizations. Reporting to CDP can help a company to gain a competitive advantage in the market.
- The Converse Chuck Taylor All-Star ShoeBusiness essay sample: The product is in the Converse Chuck Taylor All-Star shoe line though it has different modifications that will allow for maximum comfort and durability.