Question

The Product Life Cycle:

The 1st Assignment: Select 4 products in the market today, (1 that fits into each of the 4 product life cycle stages) Introduction, Growth, Maturity and Decline and do the following:

• 1st.Describe the product you selected.
• 2nd Describe why they fit into the stage you placed them.

The 2nd Assignment: Look at the Diffusion of Innovation and for either, yourself or a member of your family or both pick a product that you or they purchased that places you or them into each of the 5 categories.

Answer 1

1)Usually Short Life Product is mainly used in Life Cycle .

a)SmartPhones :

Introduction: They Advertise Through Internet So the Majority is aware of the New Model.And Also They Give it to The Reviewers Free of Cost So the Reviewer spread it to the Whole World.

Growth: Selling with a Consumers favourable budget and user friendy features will always leds to Higher Growth for the Company

Maturity: So the Product is Highy Accepted By the Customers So the Company Seek to Improve the Product to Gain the Market Power as the Company is in the Highest Stage .

Decline : When The New SmartPhones Are Launched With New Technology The Existing Smartphone Should be Discontinued .

b)Cars:

Introduction: Auto Driving Cars are More Needed In the New World Of Technology.

Growth: As The Consumers are More Needed of Automated Cars There Would be a More Sales .When they Advertise There Would be a greater Awareness

Maturity: Diesel Engines Are More Efficient and Advanced Machine So there will be Acceptable Customers So the company will focus on more to improve product so the Market have more Influence.

Decline :As The Diesels Cars are more Pollutant so this may have to Discontinue.

c)Laptops

Introduction: Laptop with more Feature with low prices always led Customer to buy

Growth: As This stage The Demand of The Product Rises And Reduce the Price .Strengthens the Advertisement So There would More Buyers

Maturity: As the Laptops Are Nowadays Most wanted Product as Pandemic Reason So the Market Penetration would be high.

Decline: When The competitor Arise a Laptop with Low Price and High Features this should be discontinue.

d)Dress:

Introduction: By Advertising New Model Dress With Affordable Price.Giving More Discounts

Growth: Selling On Widespread of Areas For more Sales So The Company would Grow.

Maturity: When There is no Competitor The Company will Increase the Price.If there is Competitor the Company will Keep the Amount to Low to Defend Market.

Decline: When the New Trends are Launch The Existing Trend Should be Discontinue.

2)About New Software

a)Knowledge:Have New Software Innovation Idea But Does'nt Know More Detail .

b)Persuasion:Interest in the Software Innovation and seeking to gain the information.

c)Decision:Check the Benefit and Non-Benefit and Decide whether to Accept or Reject.

d)Implementation:Understand the Useful of the Software Innovation and Search More of Information

e)Confirmation:This Finalizes the Decision to Continue the use of Software Innovation .