Product life cycle

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• Product life cycle

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Product life Cycle

• A technique described as a "thing designed by
  work or effort" or the "result of a process". In
  marketing, it is a factor that can be provided to
  a market that might meet a want or need. If
  products is designed successfully and it cannot
  meet a customer then the item is of no use. So to
  make products successfully, product life-cycle is
  provided.
• Product life-cycle research is the process of
  tracking the different levels of the item being
  designed from growth until it is eliminated or
  completely taken out of amount and put into
  storage. Companies can use product lifestyle
  times to enhance value of the item and reduce
  waste. It takes years to make a life-cycle
  assessment on products, but it can be useful
  information when it is gathered.

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Product life Cycle

• The concept of the item life-cycle has become
  most important to discovering the market. The
  levels of the life-cycle form a framework that
  one can use to assess you will and the primary
  factors that can effect a market area and income.
• The basic levels of the item life-cycle can be
  prolonged into a more-comprehensive design that
  better explains the various places of residing of
  products in the market. The list below explains
  the various levels of the prolonged product
  life-cycle concept.

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Product life Cycle

• There are three main levels of products
  life-cycle starting after the complete study and
  research of products. They are
• Introduction At this stage discovering,
  creating and then launching the item is done.
• Growth During growth stage income are
  increasing at their fastest quantity.
• Maturity At this stage income are near their
  highest possible, but the quantity of growth is
  decreasing down, e.g. new competitors in
  market or vividness.
• Decline final stage of the design, when
  income begin to fall.

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Product life Cycle

• Extension methods are used to increase residing
  of product life-cycle before it goes into reduce.
  Again different marketing designs are used to
  enhance income. Development methods can be done
  by
• Advertising By marketing, audiences attention
  can be got or highlight the existing audiences
  about the item.
• Price decrease By decreasing cost of the item
  customers interest can be gained1
• Adding value add new features to the existing
  product, e.g. video text messaging on mobile
  phones
• Explore new market segments By selling the item
  to offshore markets
• New appearance By modifying old system and
  making the item system more eye-catching look
  wise, or simple changes such as putting crisps in
  metal aluminum foil offers or Seventies music
  compilations.

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Product life Cycle

• Now a daily for product life-cycle there are
  different product life-cycle frameworks for
  different specifications so as to enhance the
  quality of the item, to reduce the errors and
  wastefulness and to enhance the advantage of
  advantage during each stage of product
  life-cycle.
• Conclusion Thus, the item life-cycle is very
  important as a planning device because the
  advantage of advantage changes during each stage
  of the life-cycle. General market styles and
  market planning over the technique term can be
  performed successfully using the item life-cycle
  places as the moment levels. The marketing
  techniques used will have to be personalized as
  the item goes through each stage of the design.