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branding and product life cycle - Essay Example
Author : beahantrycia
Pages 4 (1004 words)
Branding and Product Life Cycle Table of Contents Question 1: Product Life Cycle 3 Introduction 3 Growth 3 Maturity 4 Decline 4 Question 2: Branding Strategies 5 Company Name Branding 5 Individual Branding 6 Attitude Branding 6 Derived Branding 6 Umbrella Branding 7 References 8 Question 1: Product Life Cycle Product life cycle is an important business analytical tool that tries to identify a set of general stages in the life of several commercial products…
In this stage the products are newly launched in the competitive market place by the organizations. In this product life cycle stage, monopoly can be developed based on the demand and efficiency of the product. The organizations generally achieve losses rather than profit during this product life cycle stage. The organizations generally implement aggressive promotional strategies in order to create awareness about the newly developed product. This introduction stage has two characteristics, such as low competition and low sales growth rate. Growth Growth stage is the second common stage in the product life cycle model. This stage comes with the recognition in the competitive market. Profit of the products starts to flow from this stage. The organizations can try some new innovative ideas in order to maintain the sales growth of products. This growth stage is considered as the appropriate time to develop new competitive and effective price in the competitive marketplace. This strategy helps the organizations to develop a potential customer base for the products. Maturity Maturity is the third stage in the product life cycle model. ...