product life cycle and positioning. lesson objectives identify the 4 stages of the product life...
TRANSCRIPT
![Page 1: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/1.jpg)
Product Life Cycle and Positioning
![Page 2: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/2.jpg)
Lesson Objectives• Identify the 4 stages of the product
life cycle• Describe product positioning
techniques
![Page 3: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/3.jpg)
Product Life Cycle
The stages a product goes through in its life
![Page 4: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/4.jpg)
1. Introductory Stage
• High promotion• Increase
awareness • High production
costs• Least profitable
stage
![Page 5: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/5.jpg)
2. Growth Stage• Increasing sales and profits• Competition emerges• Modifications may be introduced
![Page 6: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/6.jpg)
3. Maturity Stage
• Sales slow or level off• Most money spent combating
competition
![Page 7: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/7.jpg)
4. Declining Stage
• Sales/profits may fall• New strategy chosen:– Sell or license product – promotion
strategy– Find new product uses– Discount – pricing strategy– Regionalize – place strategy–Modernize or alter – product strategy
![Page 8: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/8.jpg)
Product Positioning
Efforts a business makes to identify, place and sell its
products. Attempt to create an image for the product.
![Page 9: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/9.jpg)
Positioning Strategies
• Price (lowest price?)• Quality (best quality?)• Features/Benefits (filling a need)• Relating to the competition• Relating to other products in the
line
![Page 10: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/10.jpg)
Category Management• Process that manages product
categories as individual business units
• Category manager• Planagram– Computer-developed diagram – product display–Maximizes product’s potential
![Page 11: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/11.jpg)
![Page 12: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/12.jpg)
![Page 13: Product Life Cycle and Positioning. Lesson Objectives Identify the 4 stages of the product life cycle Describe product positioning techniques](https://reader035.vdocuments.site/reader035/viewer/2022062301/56649ea05503460f94ba3e58/html5/thumbnails/13.jpg)
Product Life Cycle and Positioning