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Q.

Discuss the product life cycle.

Tags: money, health, religion & spirituality
Asked by abhay jha, 14 Jan '12 10:48 pm
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Answers (3)

1.

In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal.[1] PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise
Answered by LIPSIKA, 14 Jan '12 11:27 pm

 
  
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2.

Ntroduction Stage

In the introduction stage, the firm seeks to build product awareness and develop a market for the product. The impact on the marketing mix is as follows:

Product branding and quality level is established, and intellectual property protection such as patents and trademarks are obtained.

Pricing may be low penetration pricing to build market share rapidly, or high skim pricing to recover development costs.

Distribution is selective until consumers show acceptance of the product.
...more
Source: google search
Answered by anil garg, 15 Jan '12 11:52 am

 
  
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3.

The product life-cycle theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher-Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area in which it was invented. After the product becomes adopted and used in the world markets, production gradually moves away from the point of origin. In some situations, the product becomes an item that is imported by its original country of invention.[1] A commonly used example of this is the invention, growth and production of the personal computer with respect to the United States.
The model applies to labor-saving and capital-using products that (at least at first) cater to high-income groups.
In the new product stage, the product is produced and consumed in the US; no export trade occurs. In the maturing product stage, mass-production techniques are develo ...more
Source: wikipedia
Answered by surendra kumar, 14 Jan '12 10:50 pm

 
  
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