Question

Please respond to the following in a minimum of 175 words:

• Select a product you are familiar with. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product? How will this affect the marketing of your selected product?

Answer 1

The product life cycle has four stages that a product must undergo in the market and they include introduction, growth, maturity and decline. The product of interest in this case will be Android mobile phones.

Introduction stage: at this stage organizations have already done research on the market needs and they have come up with a product or service they may need. Organizations will have to use their resources in creating brand awareness to attract potential customers to the brand products. The marketing strategy will be mostly inclined to giving promotions to get more customers to buy the product and get to learn it. Using the mobile phone as an example they will be telling the consumers the advantage of using that model how it will benefit their lives and what advantages it has over the other mobile phones in the market.

Growth stage: At these stages, the mobile phone would have already captured a consumer base and sales would have increase. At these stages they will be focusing on adding more customers to the brand thus their marketing strategy will be based on the features the phone has such as music, camera, radio, big RAM and ROM, etc.

Maturity stage: the product is at its peak it has a large market share with a significant place. Competition at this level is stiff since other companies have come up with similar products to have the market. The mobile phone company will be thinking about how to improve the product they have maybe by upgrading the operating systems to a new version. The marketing strategy at this stage will focus more to improvement on the features of the phone and upgrade of the software.

Decline stage: At this stage, competition has won over them and they have lost a significant market share and the sales are declining so fast. The company should think of coming up with new mobile phones with new features that are not already in the market. At this stage, the company has to be creative and innovative for them to be able to win back their customers.