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 why companies must continually develop new proceedss is because fruits have get-up-and-go troll, (Bittel, 1980). Just as operation managers must be hustling to develop new products, they must also be prepared to develop strategies for both new and existing products. First and foremost, to begin with proceeding into the product demeanor make pass strategies, lets specialise what a product life round is. According to gryphon 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 glide by customers allplace time, a product life cycle may be a matter of months, years, or even decades. Anyway, thither be four phases that every product undergoes in a market since it was produced and open uped to its out-of market positio n. They are the introductory, growth, maturity and aggravate 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 unveiling the product life cycle may require intense distribution to start with to launch it on to the market.

As it becomes to a greater extent established, perhaps the after sales-service go out play a more important role which leads to a more discriminating distribution, with only those dealers that are able to adjure the necessary quantity of after sales-s ervice 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 deterrent 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: OrderEssay.net

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