7 - Product life cycle Flashcards
1
Q
What are the 5 stages of a products life cycle?
A
1 - Introduction
2 - Growth
3 - Maturity
4 - Decline/Removal
5 - Extension/Replacement
2
Q
Product Life Cycle: Introduction
A
- Product is launched and salesd start to take off
3
Q
Product Life Cycle: Growth
A
- Advertising helps product sales to grow
4
Q
Product Life Cycle: Maturity
A
- Peak sale period, it is important to maximise the length of this stage
5
Q
Product Life Cycle: Decline/Removal
A
- Consumers who wish to buy the product will already own it so sales will decline
6
Q
Product Life Cycle: Extension/replacement
A
- Updated, improved versions are released
7
Q
What are 4 extension strategies used to redefine and redevelop products?
A
- Demand Pull
- Technology Push
- Planned Obsolescence
- Evolution of products
8
Q
Extension Strategies: Demand Pull
A
Product designers will cater designs to particular desires (demands)
- For example improved phone battery life
9
Q
Extension Strategies: Technology Push
A
- Technological advancements allowing for the development of products
10
Q
Extension Strategies: Counter Planned obsolescence
A
- More sustainable products are made to combat product disposal
- Making products repairable is a method to counter planned obsolescence
11
Q
Extension Strategies: Evolution of products
A
- research and design can be used to further develop a product creating new and improved iterations
- The iphone
