Question

marketing: subject

PRODUCT LIFECYCLE: Not all products/services have the same lifespan on the market. Some products/service have relatively short lifespans such as the Product Life Cycle such as Slankets (blankets with sleeves); while others have relatively long lifespans on the market such as Converse shoes. Please choose 2 products that have had relatively short lifespans and 2 products that have had relatively long lifespans and describe them (4 sentences). Give 1 reason for each product (4 sentences total) as to why you believe the product has had a long/short lifespan. Deliverables: 8 sentences as described above.

Answer 1

The life of a product is the period over which it appeals to customer.

PRODUCTS can be classified in 2 types:

1. Products with short life span such as, fashion, technnology, etc.
2. Products with long life span such as, oil, natural gas, etc.

Products with short life span :

Fashion life cycle is basicaly a life spam of a particular fashion at a place during which the fashion exists like, particular look, shape, style or type of dressing product. During the life cycle of Apparel industry every fashion flows in five stages(Introduction stage, Rise, Peak/ Saturation, Decline and Out-of-fashion stage).

Apparel industry is considered to have a short life cycle as the nature of the market it deals with is dynamic and uncertain. In this industry drastic changes are observed all over the gloab as for couple of months when a new tren inters a market it remains on peak and that becomes the latest trend and just after a year new trend and fashion enters the market n replace the old one. A major reason for fasgion products having shorter life span is because it is seasonal in nature as trend changes on the basis of Season in the country.

Technology life cycle predicts the eventual decline of new technological innovations, acceptance and adoption, The technology life cycle has four distinct stages(research and development, ascent, maturity, and decline).

Due to continuous increasing rates of innovation and products such as electronics and pharmaceuticals in particular are more bended to shorter life cycles. As the world is growning older technology plays an important part in the life of human beings and and to deal with the latest markets and world, people neads to addapt  latest technology and spend more over it. becausily of daily upgradation in technology a single present technology has a short life span as sooner a later a new technology will enter the market and show the door for exit to the current technology.

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