Question

Draw the Product Life Cycle figure of Samsonite, in which stage of the Product Life Cycle is Samsonite currently standing? How can the company extend its life cycle?

Answer 1

Ans:

Product life cycle is the process in which the company's product goes through various stages in which stages are as follow:

(i) Introduction stage

(ii) Growth Stage

(iii) Maturity stage

(iv) Decline stage

(v) Withdrawal Stage

Product life cycle figure of Brand "Samsonite"

Samsonite was founded in 1910, when travel was a luxury and very few brand of luggages and bags where there in the market. In the initial years Samonite was in the very successful brand because of its material quality and durability. the introduction of the first samsonite suitcase on wheels marked the starting point of the product life cycle. In year 2019, Samsonite reached the maturity stage as was the best and leading brand in the market. But in present market the samsanite is not the first preferred brand and so now fall in Decline stage of product life cycle.

Company can extend its life cycle:

Samsonite can extend its life cycle by following and implementing the following points:

(i) Increase innovation in the product or develop new products that attract the customer most.

(ii) It should increase the durability and toughness in its products.

(iii) Samsonite should produce new varities of product apart from producing only luggages and back packs.

(iv) Develop product which are convenient to use by the people and they don't find any problems

(v) Samsonite should focus on doing more commercial advertisements and use other methods of promotion and also provide attractive offers.