Product Life-Cycle Model

Overview Products can be defined as goods, services, or both; in other words, it is one that meets the needs of customers. Although the life of each product is limited, it has the same aspect. Define the time it takes for a product to become a "product life cycle". There are four phases in the product lifecycle, starting with the introduction phase, the growth phase, the maturation phase, and the recession phase. At the introduction stage, the product is not popular and can not truly make a lot of profit.

According to the survey, there is a special product lifecycle; the product's life cycle model, the fashion product lifecycle, the boom product life cycle, the special product lifecycle style including the fan product life cycle, the product's life The cycle S curve is not an ordinary type. Fashion: It refers to the field that everyone accepts and welcomes. There are few people who have just accepted the fashion-based product life cycle in the market, but it is characterized by the fact that the number gradually accepted increases and finally it gets widely accepted. Attracting their fashion

The product lifecycle model helps you analyze the maturity stage of products and industries. The term first used by Theodore Levitt in 1965. The product lifecycle model has a major impact on the organization's strategy and performance. Identify the different stages that affect product sales from introduction to retirement. Applying the product lifecycle analysis model to trademarks and Spencer's apparel business can conclude that the apparel business is still in the growth stage. Clothing business is further classified into men's jacket, women's, children's jacket, clothing accessories, underwear, pajamas, socks, stockings, tights. Many of these sub-sectors are leaders in marketing, but there is still room for development.

The validity of the product lifecycle model as a marketing tool has been questioned seriously. This model has been widely criticized by scholars and commercial media authors for many reasons. For example, not all phase sequences in actual sales are consistent with the expected order of the model, it is confirmed that the product is experiencing Second Life. This is not recognized in the product lifecycle model. In addition, many authors criticize the model as it is difficult to determine at what stage of the cycle the product is actually included. This model was also criticized because it did not determine the differences between product categories, product forms, and brands. In addition, the product itself will change due to innovation, price levels, changes in technology, consumer needs and preferences, and changes in the economic environment. All of these affect the life cycle.