MGTA05H3 Lecture 3: Product Life Cycle and factors of production
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Chapter 3: product life cycle and factors of production. Ti(cid:373)e = (cid:373)easu(cid:396)e se(cid:448)e(cid:396)al (cid:449)a(cid:455)s: da(cid:455)s, (cid:449)eeks, (cid:373)o(cid:374)ths . Sales is low, price is expensive, profits are negative, customers are few innovators, competitors little. Brand new, little known, hard to find, expensive. Sales increasing, price is starting to drop, profits are starting to increase, customers are early adopters, competitors are increasing. More popular, more known, less expensive, more available. Sales are peaked, price is stable, profits are stable might start to decline, customers are middle majority, competitors are stable, no change. Sales a(cid:396)e u(cid:374)likel(cid:455) to (cid:396)ise, u(cid:374)likel(cid:455) to (cid:271)e (cid:373)a(cid:396)ket"s (cid:374)e(cid:449) e(cid:374)t(cid:396)a(cid:374)ts, little o(cid:396) (cid:374)o p(cid:396)odu(cid:272)t development, customers are starting to switch. What do you do when everyone knows your products + already buys your products. You lau(cid:374)(cid:272)h a (cid:374)e(cid:449) (cid:448)a(cid:396)iatio(cid:374) o(cid:396) update to e(cid:454)te(cid:374)d a p(cid:396)odu(cid:272)t"s life. Different people appeal to different products for different reasons. All products have limited and finite lives.
