This website uses cookies to ensure you have the best experience. Learn more

Extending The Product Life Cycle” Essay

328 words - 2 pages

Case study “Extending the product life cycle”
Answers by Lyazzat Bayetova
1 . Using current products familiar to you, draw and label a product life cycle diagram, showing which stage each product is at.

2 Suggest appropriate aims and objectives for a small, medium and large business.
Business | Aims | Objectives |
Small | Attract more customers | Reach 10% of return on investment in first year |
Medium | Increase profit | Reach 5 million sales by the end of the year |
Large | Expand internationally | Increase market share ...view middle of the document...

Market development is when a company enters new market with same product. For example, expanding geographically, demographically or introduce new use of the product.
Product orientated routes includes product development and product diversification. Product development is a strategy that suggests firms to develop new or modified products to the same market. Product diversification occurs when a company offers new products to new market.
In conclusion, the difference between these orientated routes is change in market or in product. Market orientated routes focuses on sales of same product in either existing or new market. Product orientated routes focuses on sales of new product in either existing or new market.

4 Consider the decision taken by Kellogg to opt for product development. Suggest a way in which it could have diversified instead. Justify your answer
Kellogg as a food company could acquire other type of food business. As the company is known for health products it could produce baby food, such as infant formula, porridge, puree. Another example of diversifying their product could be entering technology market by producing health gadgets with measuring heartbeat and pressure functions. Kelogg also may produce sport fitness clothes.

Other Papers Like Extending The Product Life Cycle”

Thorr Simulation Essay

1091 words - 5 pages decided to launch the new product which is; a new motorcycle. The decision to launch the new product was made because the Thorr cruiser had run its course in the product life-cycle. Customers are not purchasing the Thorr cruiser because their targeted customers are older and no longer affiliate themselves with the life-style image that the Thorr cruiser represents. The Thorr cruiser cost the company money because of declining sales so it was decided

Auspork - Marketing Essay

2031 words - 9 pages . Modification of target market, its product or marketing mix helps in extending product category life cycle. (Study guide 2011 pp25) This is true when an existing product line does not change but a new product line which supplements the existing line is introduced as well. When Coca Cola Amatil introduced Diet-Coke, existing Coke also increased its sales. (Ries & Trout 2001) This is due to the market perceiving a new product introduction as an

Marketing

1445 words - 6 pages the buyers and become a leader. Repositioning in the motorcycle simulation was much what was expected. Sales were decreasing in the current market, and there was no other option but to reposition. In order to spark growth, the company had to target a younger market. Sales were decreasing due to changes in the Product Life Cycle. CruiserThorr had reached the stage of decline. In order to enter a phase of growth, something new had to be done

Using Perceptual Maps In Marketing

1326 words - 6 pages price changes were made. Product Life Cycle According to Cannon, McCarthy, and Perreault (2009), “(the) product life cycle describes industry sales and profits for a product idea within a particular product-market” (pp. 263).This position in the product life cycle can force a formerly profitable product to face better competition and have to rethink their marketing mix. The Cruiser Thorr was in the market maturity stage of the product life

Business

547 words - 3 pages , when they divide each product into activities at unit-level, the cost-per-batch, facility-sustaining activities, and product-sustaining activities. Aunt Connie's cookies might decide to use life-cycle cost analysis or total cost analysis. This helps the company understand their products. These are normally a part of activity-based costing, but they can be used individually as well. Life-cycle cost analysis is typically a part of product

Prop

878 words - 4 pages THE FEASIBILITY OF PRODUCING SHOE POLISHER OUT OF BANANA PEELINGS ABSTRACT -Shoe polish (or boot polish), usually a waxy paste or a cream, is a consumer product used to shine, waterproof, and restore the appearance of leather shoes or boots, thereby extending the footwear's life. In some regions—including New Zealand—"Nugget" is used as a common term for solid waxy shoe polish, as opposed to liquid shoe polishes. Various substances have

Management

308 words - 2 pages and increases revenues. Additional foreign sales over the long term, once export development costs have been covered, increase overall profitability. Enhance Domestic Competitiveness. Most companies become competitive in the domestic market before they venture in the international arena. Being competitive in the domestic market helps companies to acquire some strategies that can help them in the international arena. Expand Life Cycle of Product

Marketing By Audi

2569 words - 11 pages . New and advanced technology like greatly improved safety features, advanced control features have led to market dominance. BMW cars typically have product life cycle of seven years. and according to Jim McDowell, vice president of marketing at BMW' If a product is declining, we would prefer to withdraw it from the market, as opposed to having a strategy for dealing with the declining product' this awareness ensures that BMW ventures are only

M.M. Ispahani Ltd

9131 words - 37 pages these assets will be financed? Operating Cycle/Working Capital Cycle System: The working capital is a measure of the firm’s investment in assets necessary to maintain the operating cycle. The operating cycle is the length of time it takes for a firm to: * Acquire raw materials * Convert the raw materials into a product (this conversion may involve several stages of work-in-process) * Sell the product * Collect the cash from

Marketing

296 words - 2 pages substitute products or services, the bargaining power of buyers of the industry's outputs, and the bargaining power of suppliers to the industry's companies. Management must find for a firm a position in the industry from which it can best defend itself against these competitive forces or can influence them to its advantages. Another major element of the industry environment is the product/market life cycle which assumes that all products, and

Finance Essay

2530 words - 11 pages competitors, and any price cuts can be matched immediately. Thus, Universal’s car business is boxed in: Product pricing is determined by the market, and the company is a “price-taker.” Idata: Idata should have much more pricing flexibility given that it is in an earlier phase of the industrial life cycle. Demand is growing faster than supply, and, depending on the presence and/or actions of an industry leader, Idata may price high

Related Essays

Why Is The Systems Development Life Cycle Important?

384 words - 2 pages work that systems engineers use in planning, designing, building, testing as well as delivery of information systems. SDLC employs various models for its implementation (Blanchard, 2006). Iterative Development Model or Incremental Development Model has smaller self-contained phases of life cycle in the project. There is an addition of functionality to the software product in each increment division. This creates the need for testing the added

Product Life Cysle Essay

1310 words - 6 pages PRODUCT LIFE CYCLE MODEL The product’s life cycle usually consists of five major phases: Product development, Product introduction, Product growth, Product maturity and finally Product decline. These phases are applicable to all products or services. These phases can be split up into smaller ones depending on the product and must be considered when a new product is to be introduced into a market since they dictate the product’s sales

Brand Extension Essay

1312 words - 6 pages those of the core business, and if these values and aspirations are embodied in the brand, it is likely to be accepted by customers in the new business. Extending a brand outside its core product category can be beneficial in a sense that it helps evaluating product category opportunities, identifies resource requirements, and lowers risk, and measures brand’s relevance and appeal. There are several aspects of considering brand

Product Development Essay

453 words - 2 pages different strategies: Shortening product lifecycle: Rapid changing technologies and customer requirements are shortening the product life cycle. R&D cannot be ignored for developing new ideas to adjust the changes dynamically. New product success clearly depends to a large extent on the process used for its development and market launch. This section includes the existing practice of R&D, collection of product ideas, use of technical person