Question

For this assignment, choose from any two categories products that are at different product life cycles stages. Identify the product life cycle stages for your chosen products and provide explanations for why you believe they are at these stages. Then, provide answers to these two questions:

• Examine the product life cycles for your chosen two products relative to how it affects the company’s marketing strategies
• How would your suggestion be different for the two companies brand managers about making decisions on price, advertising, and distribution channels?

Submit a 2-3 pages paper, (excluding the title page and reference pages) double-spaced in Times New Roman font which is no greater than 12 points in size. Be sure to cite any sources in APA Format.

Answer 1

The stage of a product's product life cycle shows the increase of the product from its initial to further development path. The product is only launched in the first stages of the Product Life Cycle and sales are lower because people do not know the product. In the second stage, the advertising and absence of competitors have increased the sales. In the third step, product sales decrease at a pace as the number of competitors increases. In the final stage, the product sales decrease because of the tough competition.

Here are the Nokia and Maggi noodles product life cycle stages.

The Nokia phone is introduced in the economy from 1995 to 2002 in the first phase of the product cycle. The second stage is from 2003 to 2009, i.e. growth. The maturity process takes place between 2009 and 2011. It faces decline following 2011. In the first stage Nokia started the model with the ability to send messages. And they launched phones without an external antenna in the second stage and had improved features like games, alarm, displays etc. In the third stage, many touch screen models have been launched, but they do not compete with new brands. A business of good will only faces a downturn as a result of the wrong decisions taken, as as all other telecom companies step away and the popularity of Android is increasing.

Considering the phases of Maggi noodles' product life cycle. In the first stage, high rates of failure with the lowest consumer acceptance. They gave more sizes, aromas and options in the growth stage. The maturity stage was reached in 2003. It then faces a drop in revenue for a long time. Nestle Company's main disadvantages for Maggi Noodles are the lack of essential nutrients and the increase of prices and its flavors with Indian taste.

Proposals;

By enhancing advertising strategies, companies must expand market penetration strategies. They have also carried out a marketing survey before they launch a new product. Product development is also improved by developments from new brands with different flavors. Changes in the characteristics of goods should above all be made in the changing economic climate.