Pick a piece of clothing that you are wearing or have brought to class. Do you...

Pick a piece of clothing that you are wearing or have brought to class. Do you think this item is in the introduction, growth, maturity or decline phase of the product life cycle? Why do you think this is so? Next, assume your item is in the decline phase of the product life cycle. What are some things you should observe from a marketing and sales standpoint and what are some ways that you can extend the life of this product?

Expert Solution

Part 1-In the situation of COVID-19 Pandemic, I am taking the example of Face Mask in my case. Now it is in the Growth stage which is the second stage after introduction stage of Product life cycle because of the following causes-

1. Consumers are taking the face mask and increasingly buying it to protect themselves. The product concept is proven and is becoming more popular - and sales are increasing.

2. Other companies become aware of the product and its space in the market, which is beginning to draw attention and increasingly pull in revenue.

3. If competition for the product is especially high, the company may still heavily invest in advertising and promotion of the product to beat out competitors.

Part 2-Decline- As per given condition, if face mask are in declinie stage of PLC, following observations will be seen from a marketing and sales standpoint-

1. product sales drop significantly and consumer behavior changes as there is less demand for the product.

2.The company's product loses more and more market share, and competition tends to cause sales to deteriorate.

3.Marketing in the decline stage is often minimal or targeted at already loyal customers, and prices are reduced.

Although declinie stage goes on for the face mask, but some ways that we can extend the life of face mask are-

1. To develop innovative uses of the product like- protection against pollution will maintain its demand in the market.

2. It may still be possible for companies to make some profit by switching to less-expensive production methods and cheaper markets.

3. To redesign the mask to remain relevant or in-demand in declining stage.

Thanks & all the best.......

ekkarill92 answered 2 years ago

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