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P RODUCT L IFE C YCLE

P RODUCT L IFE C YCLE. Fisheries Marketing(AF-408). Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological Sciences University of Dhaka. Product life cycle…. MAJOR HEADS. What is product life cycle? Life cycle stages Management strategies

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P RODUCT L IFE C YCLE

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  1. PRODUCT LIFE CYCLE Fisheries Marketing(AF-408) Mohammad Shamsur Rahman Lecturer Department of Fisheries Faculty of Biological Sciences University of Dhaka

  2. Product life cycle…. MAJOR HEADS • What is product life cycle? • Life cycle stages • Management strategies • in different life cycle stages

  3. Product life cycle…. What is product life cycle? Every product has a life cycle Definition: A marketing theory in which products or brands follow a sequence of stages including : introduction, growth, maturity, and sales decline.

  4. Product life cycle…. Four things in mind 1) products have a limited life 2) sales has distinct stages- with challenges, opportunities, problems 3) profits rise and fall at stages 4) products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each stage

  5. Product life cycle…. Life cycle stages • Pre Introduction stage: Product development stage • Stage-1:Market introduction stage • Stage-2: Growth stage • Stage-3:Mature stage • Stage-4:Saturation and decline stage

  6. Product life cycle…. Figure: Product life cycle stages

  7. Product life cycle…. EXAMPLES:

  8. Product life cycle…. Management strategies in each life cycle stages

  9. Product life cycle…. Stage-1:Market introduction stage • cost high • sales volume low • no/little competition - competitive manufacturers watch for acceptance/segment growth losses • demand has to be created • customers have to be prompted to try the product

  10. Product life cycle…. • Stage-2: Growth stage • costs reduced due to economies of scale • sales volume increases significantly • profitability • public awareness • competition begins to increase with a few new players in establishing market • prices to maximize market share

  11. Product life cycle…. Stage-3:Mature stage • no need for publicity • sales volume peaks • increase in competitive offerings • prices tend to drop due to the proliferation of competing products • brand differentiation, feature diversification • Industrial profits go down

  12. Product life cycle…. • Stage-4:Saturation and decline stage • costs become counter-optimal • sales volume decline or stabilize • prices, profitability diminish • profit becomes more a challenge of production/distribution efficiency than increased sales

  13. Product life cycle…. Thanks for patient hearing

  14. Q & A Product life cycle…. ?

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