Discuss in which product life cycle stage the product falls. Justify each with one solid reason for being in that particular stage.
Pepsi Black.
Iphone X
Dettol surface cleaner
Answers
Answer:
Pepsi Black: Stage - Maturity or Demand Saturation
iPhone X: Stage - Growth
Dettol Surface Cleaner: Stage - Growth
Explanation:
We use various products in our daily life and are quite accustomed to the brands associated with it. However, sometimes we also come across certain commodity or product which comes to the commercial market and within some days, gets removed from the market, which happens due to the reduction in the demand of the product.
This phenomenon can be described by the concept of the Product Life Cycle. Like all living organism, a product or a commodity also goes through various phases in its shelf life.
These phases of the product life cycle could be broadly classified as follows:
1. Inception and Development of the Product: This is the phase where the idea of the new product is incepted. The product is being developed by the manufacturer during this phase.
2. Product Introduction: This is the phase when the product is launched in the market to be available for the customer. During this phase, the demand for the product is being analyzed by the manufacturer.
3. Growth of the Product: When the newly introduced product is accepted by the customers, the demand for the product grows and it starts delivering profit to the manufacturer. This is the Growth phase of the product.
4. Demand Saturation: A phase comes when the product has been consumed by all the potential buyers and it no longer has any raising demands. This is the stage when the product reaches its saturation point. During this phase, new profit is not noticed.
5. Fall of the Product: After the saturation of the product, a time comes when its demand gradually declines and eventually falls off. This phase is called the Decline or the Fall of the product.
Keeping these scenarios in mind, let us see, in which phases our provide products fall in the product lifecycle:
a. Pepsi Black: Stage - Maturity or Demand Saturation
Pepsi has been present in the commercial market for quite some time now, however, the demand for Pepsi has not declined. It has attained its maturity level in the commercial market and has been a revenue generator for its manufacturers.
b. iPhone X: Stage - Growth
Apple as a company has given us various innovative products like iPod, iPad, Mac computers, etc. Among these, the iPhones could be considered as the pathbreaking invention. iPhone also has various models and each one of them is at various stages of the product lifecycle.
iPhone X, being one of the latest models of iPhone, is still in the growth phase. The demand for the product is growing as more and more customer are targeting this premium product. It is also entering into new commercial markets globally and hence the revenue generation is in a growing phase.
c. Dettol Surface Cleaner: Stage - Growth
Dettol Surface cleaner has been recently introduced in the commercial market. The demand for the product is still in the growing phase as it provides an alternative method of surface cleaning.
The potential customer base is still in the increasing phase for this product.
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