Product Life Cycle
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Product Life CycleProduct Life Cycle
1.Introduction Stage :- Green works by Chlorox.
These were launched on Jan 14 2008 , so they are very new in the market and a lot of the people still haven't tried them out or even heard of them.
The target segment for Green works are the people who want to have safe and toxin free cleaning supplies along with the segment of people who deeply care about the environment. The promotional campaign for this product states that it is made using 100% natural plant based ingredients but is as effective as normal cleaning supplies.
2.Growth Stage :- Kraft Low Fat Cheese.
I believe that Kraft Low Fat Cheese is an example of a product in the growth stage because people are becoming more health conscious and are opting for more healthy life style. The food habits of people are also changing . They are making healthy food choices. This segment of people is rapidly growing hence the demand for healthy food which tastes good is also increasing.
The target segment for this product is people who are fond of good food but at the same time are health conscious.
3.Maturity Stage :- Hershey's Chocolates.
These chocolates have been around since a 100 years and most people buying these chocolates are repeat consumers. There are no new consumers in the market who want to try them. They have managed to be in the maturity stage for a prolonged period through good advertising and by selling the fact that their chocolates haven't changed since 1899.
The target segment for this product has evolved over the time. Its not only kids but also grown ups as they have advertisements featuring Hershey's kisses chocolates with I miss you and I love you messages.
4. Decline Stage :- Hallmark Greeting Cards.
The number of people who still believe in sending hand written greeting cards is reducing. Digital cameras, personal websites, email, instant messaging, text messaging and a whole host of other communications media...