{"id":98,"date":"2008-02-05T07:20:27","date_gmt":"2008-02-05T12:20:27","guid":{"rendered":"http:\/\/www.samcarrara.com\/marketing\/product-life-cycle-overview\/"},"modified":"2009-08-26T22:51:08","modified_gmt":"2009-08-27T02:51:08","slug":"product-life-cycle-overview","status":"publish","type":"post","link":"http:\/\/www.samcarrara.com\/marketing\/product-life-cycle-overview\/","title":{"rendered":"Product Life Cycle- Overview"},"content":{"rendered":"<p>Every product has a life cycle. And every product class has a life cycle. The life cycle is generally broken down into four parts. A graphical representation of the <strong>Product Life Cycle<\/strong> is shown below:<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.samcarrara.com\/marketing\/marketing\/wp-content\/uploads\/product-life-cycle.gif\" alt=\"Product Life Cycle\" \/><\/p>\n<p>The four stages are defined as: <em>(From a business to consumer B2C point of view.) <span style=\"color: #ff0000;\">(Added links for further explanation of each stage.)<\/span><br \/>\n<\/em><\/p>\n<ul>\n<li><a href=\"http:\/\/www.samcarrara.com\/marketing\/the-birth-of-a-product\/\" target=\"_blank\"><strong>Introduction<\/strong><\/a>&#8211; Here the company tries to educate the consumer about how the product works, why its needed and work on distribution of the product.<\/li>\n<li><a href=\"http:\/\/www.samcarrara.com\/marketing\/sale-growth-on-the-rise\/\" target=\"_blank\"><strong>Growth<\/strong><\/a>&#8211; Now that consumers know more about the product, companies try to build brand loyalty and increase their market share.<\/li>\n<li><a href=\"http:\/\/www.samcarrara.com\/marketing\/the-seed-becomes-a-big-tree\/\" target=\"_blank\"><strong>Maturity<\/strong><\/a>&#8211; Sales begins to slow and competitors appear to have the same or similar product. Companies are trying to defend market share.<\/li>\n<li><a href=\"http:\/\/www.samcarrara.com\/marketing\/the-death-of-a-product\/\" target=\"_blank\"><strong>Decline<\/strong><\/a>&#8211; A product may become obsolete, need to be revamped or just continues to make sales. Some products do not face being obsolete.<\/li>\n<\/ul>\n<p>The picture shows one way a product life cycle may evolve. Sometimes it may cycle back and forth between maturity and growth due to innovations of ideas. <span style=\"color: blue;\">Where is Your product on this curve<\/span>? Just because it is in the Introduction or Decline stage, doesn&#8217;t mean you should or shouldn&#8217;t be marketing the product.<\/p>\n<p><span style=\"text-decoration: underline;\">In future posts I will talk about each stage in more detail<\/span>.<\/p>\n<p><strong>Know the Life Cycle,<br \/>\nSam Carrara<\/strong><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Every product has a life cycle. And every product class has a life cycle. The life cycle is generally broken down into four parts. A graphical representation of the Product Life Cycle is shown below: The four stages are defined &hellip; <a href=\"http:\/\/www.samcarrara.com\/marketing\/product-life-cycle-overview\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[177,72],"class_list":["post-98","post","type-post","status-publish","format-standard","hentry","category-marketing","tag-marketing","tag-product"],"_links":{"self":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts\/98","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/comments?post=98"}],"version-history":[{"count":3,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts\/98\/revisions"}],"predecessor-version":[{"id":183,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts\/98\/revisions\/183"}],"wp:attachment":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/media?parent=98"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/categories?post=98"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/tags?post=98"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}