Have you ever wondered how a product is created? Can you think of a product that was a big hit back in the day but not available now? Some say that a product has a life cycle like Mother Nature. A bird drops a seed on the ground; the seed starts to sprout; shoots out leaves and roots; the plant matures into a big tree and after years of stormy weather and sunny spring the tree dies.
In theory, it’s the same for a product. After a period of development, it is introduced or launched into the market (bird drops the seed on the ground); it gains more and more customers as it grows (shoots out leaves and roots); eventually the market stabilizes and the product becomes mature (little seed became a big tree); then after a period of time the product is overtaken by development and the introduction of superior competitors, it goes into decline and is eventually withdrawn (death of tree).
Product Life Cycle
To say that a product has a life cycle is to assert four things:
- That products have a limited life,
- product sales pass through distinct stages, each facing different challenges, opportunities, and problems to the seller,
- profit rise and fall at different stages of product life cycle, and
- products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each life cycle stage.
However, you must remember that a product life cycle even under normal conditions, to all practical intents and purposes often do not exist. Dhalla & Yuspeh in 1976 criticizes the product life cycles states that:
…clearly, the PLC (Product Life Cycle) is a dependent variable which is determined by market actions; it is not an independent variable to which companies should adapt their marketing programs. Marketing management itself can alter the shape and duration of a brand’s life cycle.
So, the life cycle may be useful as a description, but not as a PREDICTOR; and usually should be firmly under the control of the marketer. The important point is that in many markets, that product or brand life cycle is significantly longer than the planning cycle of the organizations involved.
For more about the product life cycle visit: http://www.samcarrara.com/marketing/product-life-cycle-overview/
The Product Journey,
Last night after a quick trip to the local mall, I took my family to Mimi’s Cafe
. It is a restaurant that serves breakfast, lunch and dinner and the first one opened in 1978. The buildings are themed like colorful French cottages. Inside the restaurant is nothing like other restaurants, you will have visit to see what I mean.
We have enjoyed eating at Mimi’s before but this visit was different for a few reasons:
- They had a great appetizer, meal and dessert choice menu that was only $12.99, I ordered the corn chowder, half rack of ribs and brownie sundae. My wife ordered the garden salad, BBQ salmon and apple crisp sundae. Both meals were delicious.
- The wait staff and managers really seemed like they wanted you there. Multiple times they asked if we wanted something. Once they asked if we wanted an extra helping of mashed for one of our kids and I was jealous of the worms in the dirt dessert cup they get (candy worms in chocolate pudding with crumbled oreo on top). My wife asked and they brought one out for me. My mouth is watering thinking about the delicious food again.
In addition to the feeling that they want you there and providing excellent customer service, the variety of breads are yummy. I prefer the carrot nut bread myself. I just checked their website and it is funny, but smart, that they are on Facebook and Twitter. It is a great way for them to get their name and marketing out to more people.
Great Customer Service and Yummy Food,
Just to let you know we are currently working on a complete site redesign. There are a number of things we plan to do with the updating of the site to include:
- A much more attractive website design and graphics
- More regular posting and posts that fit with the theme of marketing more like one of the most looked at posts: http://www.samcarrara.com/marketing/product-life-cycle-overview/
- Chances to have guest posters
- Opportunity for you to test the WordPress plugins we made
- Contests to win prizes
- And more…
If you have suggestions, post a comment here.
My Alexa ranking has slipped a little since I haven’t posted in awhile, but I have come to understand much better the way they calculate their numbers since the shakeup.
Redesign in Progress,
We are on day five of our vacation, it is beautiful and relaxing. The day we arrived, we checked in and met our Guest Services Coordinator. She, Nelly, helped us arrange tours and a vacation membership preview tour (more about that in another post).
There are numerous people needed to make a resort like the Playacar Palace successful. Some mornings we would get up early enough to see a bus come to the hotel loaded with the hotel workers. These people include:
- Check-in staff
- Baggage handlers
- Restaurant check-in
- Wait staff
- Bar tenders
- Pool staff
- And many more…
All of the workers have customer service at the top of their mind, always have smile on their face and genuine interest in you. It is like they went to “Palace Resorts University,” they all are like this. Some asked “where are you from,” “how did you like…” and “how can we help you?”
There is a real difference between real customer service and “faking it.” Go to your local fast food restaurant employing a minimum wage employee, he/she just cares about doing the minimum to get a paycheck. There is a real difference between the Palace experience and minimum wage experience.
The other part is consistency. We have gone to four of the local Palace resorts and they are all the same high quality. Consistency is very important.
The two main lessons here are:
- Genuine interest
Above is just a shadow of the Great Customer Service provided by Palace employees.
Genuine Interest and Consistency,
A few months ago I booked a 10th Anniversary trip for my wife and I to Playacar Palace in Playa Del Carmen, Mexico. We arrived yesterday and have enjoyed the experience thus far. This trip is a time to relax, recharge and reconnect. To see more about the Playacar Palace, visit the website:
Over the next few days I’ll give a few highlights of the trip and maybe a few pictures, BUT this will be a relaxing trip. This area is known as the Mexican Riviera. Some of the topics I hope to cover about the trip are:
- Customer Service