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Marketing. Chapter 8. Product Life cycle. Why is it important?. Product Life Cycle. Shows the path a typical new product takes from its inception to its discontinuation.

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Chapter 8

product life cycle
Product Life cycle

Why is it important?

product life cycle1
Product Life Cycle
  • Shows the path a typical new product takes from its inception to its discontinuation.
  • It describes the stages a product goes through from its introduction, through its growth until it is mature and then finally its decline.
product life cycle2
Stage 2: GrowthProduct Life Cycle

Stage 1: Introduction

  • When the product or service will first appear.
  • The product or service will show a profit and its sales will increase.
  • There will be little or no competition for the product/service.
  • Product or service establishes a presence in the marketplace.
  • Some competition is at its peak.
  • The promotion and advertising must be put into full gear.
product life cycle3
Stage 4: DeclineProduct Life Cycle

Stage 3: Maturity

  • The product or service is at the peak of popularity.
  • Competition is at its peak.
  • The promotion and advertising must be put into full gear.
  • Sales begin to drop on the product/service.
  • Competitors already left the scene.
  • Company must decide whether to abandon the product
non traditional product life cycles
Non-traditional Product Life Cycles


  • A product or service is extremely popular for a very brief period of time.
  • Becomes unpopular and just as quickly vanishes from the marketplace.
  • Very risky, timing is everything to make money.
non traditional product life cycle
Non-traditional Product Life Cycle


  • A mass movement toward a particular style or value which can result in a number of products that begin to take on a traditional product life cycle.
  • Lasts longer than a fad (MP3 Player, digital cameras).
non traditional product life cycle1
Non-traditional Product Life Cycle

Niche Markets:

  • Small section of the market that is dominated by one company.
  • Limited if any competition.
  • Very short growth stage that leads to a solid but not financially spectacular maturity stage (pet hotel).
non traditional product life cycle2
Non-traditional Product Life Cycle

Seasonal Markets:

  • Marketers can anticipate periods of high or low demand.
  • They will look to create opportunities outside of their usual season to create value for their product in consumers’ minds (Golf Course).
product life cycle assignment
Product Life Cycle Assignment
  • Make a table with a column for each stage of the Product Life Cycle.
  • List each of the following products under its current stage of the Product Life Cycle.
    • DVD Players
    • Blue-Ray Player
    • Cabbage Patch Kids
    • Kellogg’s Cereal
    • Coca-cola
    • Typewriters
    • iPod
    • Faxes
    • Email
    • Cotton T Shirts
    • Credit Cards
    • Canada Postal Service
  • Add at least two more products or services at each stage of the cycle.