Sample Essay

It has already been mentioned earlier that the product lifecycle does effect the management in the company and the specific operations pertaining to the product in the company. These influences trigger different reactions and actions in the particular product lifecycle stages of the product.In the introduction phase the product needs to be launched in the market and the consumers and the prospective consumers and the target market needs to be educated and informed about the product. It is also paramount in this stage for the product to be able to create an initial position for itself in the market. As a result this stage of the product lifecycle entails strategies being developed relevant to the branding of the product, the specific protection and copyrighting of the brand and the patents, the establishment of the pricing of the product which includes penetration or the skimming based pricing strategies. Aside from this the distribution strategy of the product has to be established which is still selective in nature as the product is just being launched in to the market. The promotion in this stage is focused on the innovators and the early adopters amongst the target market. The specific marketing activities take the form of building awareness of the product in the market by way of distinction and differentiation form the other products in the market.

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Essay: Product Lifecycle & Business Operations
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