Product Life Cycle Dryel free essay sample

This paper discusses the stages of a products life cycle, using P Gs Dryel as an example. The stages of a product life cycle, reflected in trends of sales, are examined using Proctor and Gambles product Dryel as an example. The Introductory, Growth, Maturity and Decline stages are discussed, as well as strategies for extending profitability during the last stage of a products life cycle. Every new product is subject to various trends that reflect the demand by consumers for that particular product. Each trend or stage is defined by changes in unit sales of the product. Firms usually witness dissimilar rates of sales as a product evolves thru introductory (development) stage, growth stage, maturity stage and finally the decline stage. These stages are the trends that define a products life, or as industry analysts have named it, the Product Life Cycle (PLC). Graphically, the typical product life cycle resembles an S-curve, each point on the curve representing various stages in the life of a product. We will write a custom essay sample on Product Life Cycle: Dryel or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Firms use the PLC for marketing purposes as the PLC helps the firm develop its strategy. Product management differs over the different stages of a products life. Every new product or invention is subject to such a life cycle, just as cassette tapes replaced the infamous 8-track, compact discs (CDs) are replacing cassette tapes. This paper discusses in detail the various stages of the Product Life Cycle and how the PLC pertains to Ps brand Dryel, as well as addressing some of the many strategies firms use to extend a products life.