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Product and Human Life Cycles

Explore the stages products and humans go through from development to decline, and learn how to apply extension strategies. Activity sheets included.

jillmcdaniel
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Product and Human Life Cycles

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  1. Product life cycle The stages through which a product passes form its development to being withdrawn from sale; the phases are research and development, launching the product, growth, maturity, saturation and decline.

  2. A Human Being Life Cycle • Conception • Birth • Childhood and Adolescences • Mature adult • Old age • Death • A Product Life Cycle • Research and development • Launch • Growth • Maturity • Decline • saturation

  3. Open in Active Business SALES COSTS CASHFLOW

  4. Activity 1: Worksheet 1 match up the statements with the appropriate stage of the PLC.

  5. Can you think of different ideas for how a product may stop declining?

  6. Extension Strategies

  7. Product life cycle can be linked into the cashflow of a business Introduction – negative cashflow due to spending on advertising to launch the product Growth – positive as sales are increasing, however advertising spend is still high Maturity – positive as sales are high and stable and advertising is regular but has slowed down as people are aware of the product Decline – possibly still positive as some sales are being made but business may have stopped advertising

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