Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
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Question
have to explain the following product life cycle graph and where is the ani-acne drink is placed.
Transcribed Image Text:Product's life cycle
The product is yet to be made and
strategically planned. The company needs to
test the product then proceed to production
and distribution; Then the firm will move to
introductory stage by promoting the product
using advertisements to convey information
Sales and
profits ($)
Sales
ANTI-ACNE
DRINK
Profits
Time
to consumers and make them aware.
Product
development Introduction
Growth Maturity
Decline
Therefore, it is in product development stage
which the cost of expense is higher than
profit since there is no profit at all in this
Losses/
investment ($)
Since it is a brand-new product, it is in the "Product Development"
stage.
stage.
Expert Solution
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Step 1
Product life cycle refers to marketing concept which explains that every product that exists in the market has a certain lifespan which all products have to go through. Studying the life cycle of a product helps a company to also understand what strategies to use at every stage of the lifecycle.
In a product life cycle, the life of the product starts at the point when it is newly launched in the market and ends at the point when the same product is taken off from the market. The products are generally taken down from the market due to reduction in the demands.
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