Product life cycle in marketing management [Video]

Presentation on Product life cycle
venue :- GNDEC

please like share and subscribe.

follow me on Instagram … Vishwajeeth _1

**Slide 1: Introduction to Product Life Cycle**

*Title: Understanding Product Life Cycle*

– Definition: The product life cycle describes the stages a product goes through from introduction to withdrawal from the market.
– Importance: Helps businesses understand the trajectory of their products and make informed decisions.
– Overview: Four distinct stages – Introduction, Growth, Maturity, and Decline.

**Slide 2: Introduction Stage**

*Title: Introduction Stage*

– Characteristics:
– Low sales.
– High costs due to heavy investment in promotion and distribution.
– Minimal competition.
– Example: Electric Cars
– When electric cars were first introduced, they faced low sales due to high prices and limited charging infrastructure.
– Companies like Tesla heavily invested in marketing to create awareness and drive adoption.

**Slide 3: Growth Stage**

*Title: Growth Stage*

– Characteristics:
– Rapid sales growth.
– Increasing market acceptance.
– Rising competition.
– Example: Smartphones
– Smartphones experienced exponential growth as they became more affordable and accessible.
– Competition intensified with various manufacturers entering the market, leading to innovation and price competition.

**Slide 4: Maturity and Decline Stages**

*Title: Maturity and Decline Stages*

– Maturity Stage Characteristics:
– Sales peak.
– Market saturation.
– Intense competition leads to price stabilization.
– Decline Stage Characteristics:
– Sales decline.
– Technological advancements or changing consumer preferences render the product obsolete.
– Example: DVDs
– DVDs reached maturity as sales stabilized due to market saturation.
– With the rise of streaming services, DVD sales entered the decline stage as consumers shifted to digital formats.

**Slide 5: Conclusion**

*Title: Conclusion*

– Recap: Product life cycle comprises Introduction, Growth, Maturity, and Decline stages.
– Importance: Understanding these stages helps businesses strategize effectively.
– Adaptation: Businesses must adapt their marketing, pricing, and product strategies according to the stage their product is in to maximize success.