Product Life Cycle

Question 1

Describe the stages of the product life cycle

Answer 1

Introduction - product launched with appropriate publicity
Evolution/growth - advertising helps product sales grow
Maturity - peak sales
Decline/ Removal and/or Extension/ Replacement

Question 2

Give an example of 2 products employing extension strategies to maintain sales

Answer 2

Apple iPhone

Toyota Corolla

Question 3

What is demand pull and give an example?

Answer 3

demand by consumers for desirable features e.g. improved battery life

Question 4

What is technology push?

Answer 4

companies marketing new developments e.g. touch screen

Question 5

What is meant by planned obsolescence?

Answer 5

products requiring replacement on regular basis

e.g. software incompatibility

Question 6

What changes can lead to the evolution of products?

Answer 6

new technologies, manufacturing method, materials

Question 7

What is the role of research and development in product design?

Answer 7

explore and develop new ideas = evolution of products