Question

In 2017, Samsung regained control as the leader in the worldwide smart phone market. The competitive landscape has change significantly with the rise of brands such as OPPO and Vivo in smart phone segment. Huawei, in particular, poses a big threat to Samsung

1. Discuss the five (5) stages of product life cycle for Samsung.

Answer 1

The product life cycle is a normal effect that occurs in every organization. The five stages of the product cycle are defined below in relation to the Samsung company.

1. The first stage of the product life cycle is "Introduction". It is the introduction of the product into the market for sales. While introducing the firm is placing a new product into the market so they might take some strategies like money-back guarantee, Attractive gifts, discounts, unique features on the product.

With regard to Samsung, the designed the new series of mobile phones. And it's used the official website to create customer awareness. A classical example is the disclosure of S7 products on the website. They also allowed customers for advance pre-order from customers for the product which is yet to be launched.

2. Growth stage: Here the company accepts the risks, demands, and sales challenges. A new version of the product is being released here. Brand image creations and price competitions also happen at this stage.

With regards to Samsung, they changed the features on Galaxy products where the price point remained the same, but the features were added on.

3. Maturity Stage: Here the competition will be high and profit fall due to this. The companies start to differentiate the product from others. For Example, Samsung started improving the quality of services by assign boosters in the domestic and international markets. They introduced smartphones with android, galaxy series, window phones to compete with, focused on the galaxy S series to compete with all the competitors. They offered discounts, special offers o credit card purchases.

4. The decline is the stage where the companies tend to get lower profitability in sales and business. Regards to Samsung started an economic pack to revive the demand and focus group helped Samsung to understand the market perception by which they came up with innovation and product technology. For Samsung, there wasn't a stage of decline in real. They took forecasting planning to avoid such cases.

5. Abandonment stage: This is the stage where the new innovative product is being developed to replace the old one. Samsung doesn't abandon the product but some technologies which were not giving the accurate quality check. Example abandonment of waterfallwhen the test with waterfall was not effective in galarcy s11 product.