Describe waht is Product life cycle and explain its stages.

In todays world, where grocery is unpredictable, strategies play crucial role in support a firms harvesting position. The main reason wherefore companies must continually develop new harvestings is because products have spiritedness troll, (Bittel, 1980). Just as operation managers must be hustling to develop new products, they must also be alert to develop strategies for both new and existing products. First and foremost, before proceeding into the product life make pass strategies, lets stipulate what a product life rhythm is. According to griffon vulture and Ebert (2002), a product life cycle is a serial of stages through which it passes during its profit -producing life. Depending on the products ability to attract and slip by customers everyplace time, a product life cycle whitethorn be a matter of months, years, or even decades. Anyway, there be four phases that every product undergoes in a market since it was produced and open uped to its out-of mark et position. They are the introductory, growth, maturity and decomposition phases. Below follows the figure of a product life cycle and all phases detailed descriptions shall be described later.         Also, considerations must be given to how far the product is along the product life cycle. A new apprehension / product just debut the product life cycle may require intense distribution to start with to launch it on to the market.

As it becomes more established, perhaps the after sales-service go out play a more important role which leads to a more discriminating distribution, with only those de alers that are able to adjure the necessary! modular of after sales-service being allowed to sell the product. In simpler words, in every phase of a product life cycle, a product should undergo different, suitable strategy in order to full stop competitive in the ever ever-changing market.         Below follows the product life cycle stages along with... If you requisite to get a full essay, order it on our website: OrderCustomPaper.com

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