Question

1. Which stage of the product life cycle best fits/describes men’s shaving products industry? Explain your rationale.

2. Identify and explain 2 strategies that Harry’s shaving company should employ to gain greater adoption of its products in the marketplace.

Answer 1

Answer 1- The product life cycle indicates the different phases through which the product goes from it's initial or introduction phase to the decline phase. If we look at the men’s shaving products industry, this industry is more than 150 years and there are many leading players in this industry.

If we look at the current phase of PLC of men’s shaving products industry, it is has crossed its saturation point and now going to enter the decline phase as various new substitute products have been developed, there is a trend of beard and long shave among the men. Thus the sales are going down rapidly

Answer 2= The following two strategies can be adopted=

As the company is operating in men’s shaving products industry and this industry is being dominated by Gillette, so the company must reposition itself that is totally different from Gillette. the focus should be on the young generation or the teenagers who will be the future customers of the company

Secondly, the company has to have product differentiation and price differentiation that the industry leader so that it can attract the price-sensitive customers and with the innovative technology and product development, new products with greater features and ease of shaving should be introduced in the market