Product Life Cycle Homework Help
Understand the stages of product’s life with Product Life Cycle assignment help
What is Product Life Cycle? The period from which a product is developed and taken into market and eventually removed from the market is called Product life cycle. The cycle of product divided into four stages-
Product life cycle is used as an idea for marketing as it is helpful in deciding when to reduce prices, explore new markets, advertise or go for new packaging.Our experts ensure step by step learning for the students who are in need of Product Life Cycle homework help. Contact us if you are facing difficulties on completing your homework.
The stages of product life cycle- We all are consumers. Being a consumer we buy many products and just like us products also have a life cycle. Let’s discuss the stages.
- Introduction stage–
This stage is about launching a new product. It can be said as an expensive stage. The size of the market in introductory stage is small; sales are low. If there is competition for the product, then the cost of research and development and testing can be high.
- Growth stage–
In this stage there is strong growth of sales and profits can be witnessed. This stage is suitable to invest more money in advertising and promotional activities. To know more on how company starts taking benefit from economies of scale, visit us at helpmeinhomework.com, we have professionals who provide Product Life Cycle assignment help.
- Maturity stage–
At this level, manufacturers tries to maintain the captured market share. This can be considered as the most competitive stage for the product. They can think for the product modification and development in this stage.
- Decline stage–
Shrinking of market can be witnessed at this stage of declination. This can happen if a consumer starts switching from one product to another.
What is Product Life Cycle Management? The observation of a product as it go through different stages of its life like development, growth, maturity and declination is known as product life cycle management. There must be an effective product life cycle management to perform well from the competitors and to make product profitable.
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Benefits of proper management of product life cycle-
- Boost up the market for the product
- Improves product security
- Increase in sales
- Reducing wastes
- Improves product quality
There is computer software which is specialized to assist this management. To know more on the functioning of such management, visit us. We have qualified professionals who provideProduct Life Cycle assignment help.
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