Product cycle, what is the big deal sell it until it can't sell anymore here in the United States, then dump it somewhere in the world, there is always someone that will buy it. The great thing is that you can still make a profit without putting any real effort into. New products are all right but lots of work, a lot of money and it is still something you do not make a lot of money for your efforts. One thing you have to remember no one is going to pay more, you have to be the cheapest or you’re sunk, no products moving off the shelves.
Address the statement from the perspectives of:
You are a marketing manager for Pillsbury
You are an advertising manager for Kroger food chain, determining what and where advertising should be placed in your listings.
You are a marketing student needing to set a price on the new product your group has come up with.
You are newly hired manager of a startup company offering a new product or service,
You are a purchasing manager for an off-shore wholesale warehouse chain.
You can also address the statement from other directions; just ensure you note how you are addressing the statement in your comments. (200 word)
Product cycle is not just about selling a product until you cannot sell it anymore. Any product goes through different stages; From introduction to growth, to maturity, to decline. At the introduction stage there isn’t any competition. A lot of advertisement needs to be done in order to explain the concept and create a market for the product. Higher prices can be charged at this stage since there is no competition. At growth stage, competitors start entering the market. The prices need to be adjusted in line with the competition. There is greater competition as competitors compete for market share, but since the market is still growing, new clients can be attracted without having to poach away competitor’s clients. At the maturity stage the market becomes stagnant