Question

Please pick ANY 1 product and then:
1) Identify the stage of your chosen product in the Production Life Cycle framework and
    explain why it is at that stage. (5 points)
2) Propose 2 strategies for your chosen product.
     For example, if your product is at the   MATURE stage of the product life cycle,
     please propose 2 strategies to promote your product at the mature stage. (6 points)

Answer 1

Question 1) Identify the stage of your chosen product in the Production Life Cycle framework and explain why it is at that stage.

Answer 1) The product that I am choosing is Apple Iphone , Apple is the company, Smartphone is the category and Iphone is the product. So talking about Apple Iphone, Iphone is said to be one of the most famous products every launched by Apple and still in this pandemic time the sales of Apple Iphones are remarkable. So now lets talk about where Apple Iphone is when considering it in product life cycle. I still believe that Apple famous product Iphone is in Growth stage and is growing very rapidly every years the sales of Apple Iphone are increasing in number every year earlier they had only 1 Iphone launch in one year but now the company launches 4 Iphones in a year because the company market share and product share is growing at a very fast pace along with this the company Apple is also brining new technologies in their Iphones that more and more customers area asking for it and the demand for Iphone’s are increasing every year.

Question 2) If your product is at the   MATURE stage of the product life cycle, please propose 2 strategies to promote your product at the mature stage.

Answer 2) If Apple product Iphone is in mature stage I will be using these 2 strategies to promote my product.

1) New first in segment technology: If Iphone moves toward mature stage and people stop buying it then I will bring a new technology to Iphone that customers get attracted towards my product again and start purchasing the product because phone market is driven by technology so brining a new different technology will do it for Apple Iphone. i.e. brining air camera to Iphone.

2) Launching a facelift version, new color or new theme: In phone companies it happens a lot whenever the sale of any phone or product goes down company launches a new color of the phone or new theme edition of the phone that is marvel edition, star wars edition, mclaren edition etc. By doing all these stuffs the demand for Apple Iphone will increase again.