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How to identify which stage of the product life cycle your product is in? |
Each Product has a distinct Product Life Cycle viz. introduction, growth, maturity, and decline. However, it is always with the benefit of hindsight we are able to decide at what stage of the PLC the product was when some change happened in the PLC. Are there any ways to determine the stage of the PLC your product is in? Hi I think their r many factors which decides the stage of product in PLC. such as :- -- By analysing products's change in price in mkt. -- By taking feedback from users. -- By its utilisation level. -- By analysing its distribution. -- By analysing its availability mkt. etc. so, what do u think ? Thanks & Regards Tanisha Source(s): MBA student keep an eye on how fast it's selling and when it slows down and when it nearly stops selling. That's why people use computers and computer programs...to figure that and to project. it can only be said by taking into consideration the total time line of your product. some stages of some product cycles are so long that u cant predict it in your entire life time PLC - Difficult concept to enumerate.. What are the other solutions to the end customers need ? How is the positioning of these other solutions ? Which solution do you think is gaining ground / losing popularity amongst end customers ? What is the penetration of your product ? Repeat purchase / continuing demand ? New users growth rate ? All these are questions, that can be answered by standing at the market, and talking to end customers. Logistics and Demand survey carried out by reputed and reliable market research organisations. Good Luck. It depends on the type of product, If it is a consumer product you will have to consider the 1}inflation level in the economy 2}Study of the demographics in the economy. 3}The poverty level improvement 4}types of products consumed more by the people or liked by the people. 5}the prise standard mentained by the similar companies. 6}your share in the industry. there are many other factors to be considered depending on the type of products. |
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