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Pages 5 (1255 words)
Camera Introduction A product life cycle (PLC) is a representation of the different stages that a product goes from development to withdrawal from the market. The different stages of product life Cycle are research & development, introduction, growth, maturity, saturation, decline and withdrawal or re-invention.
Below the first camera from Kodak is taken as a product for the description as how it has passed through the different stages of the PLC curve with different combinations of marketing mix i.e. the 4P’s-Product, Price, Place and Promotion being applied to it and how later it had to be differentially renovated as digital camera (Jason, 2006). PLC marketing mix integration Before a product is introduced in the market, a lot of proper research and development goes for the development of the product. The Research is done to find out key things like whether there is need for this type of product will the revenue is worth applying the innovation cost, the cost of production etc. Similar is the case with cameras. Before the market introduction stage, the product was incepted and then developed by the company. Introduction Stage: In the introduction stage, customers are not familiar with this type of product. Since it is a product newly launched people are not fully aware of its advantages, availability and specifications. In this stage, branding, the establishment of quality and performance level, and intellectual property protection like patents and trademarks are done. ...
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