abhishreshthaa
Abhijeet S
Product Development Life Cycle
Product Life Cycle:
The stages through which all products that survive their initial launch will pass before being withdrawn from the market at the end of their commercial life. It involves five distinct stages
1. Product introduction
2. Product growth
3. Product maturity
4. Product saturation
5. Product decline
After launching the product “Quench It” Quintessence wants the product to enjoy a long and happy life cycle. Although one can not expect the product to sell forever the company wants to earn a decent profit to cover all the effort and risk that went into launching it.
Management is aware that each product will have life cycle although its exact shape and length is not known in advance but it can be forecasted.
We did the survey of our product and the results were 75% of probable consumers were keen to buy and try our product.
Target consumers were from age 17 onwards. Our researchers found out that smokers were highest under age of 17 – 40.
Product Life Cycle:
The stages through which all products that survive their initial launch will pass before being withdrawn from the market at the end of their commercial life. It involves five distinct stages
1. Product introduction
2. Product growth
3. Product maturity
4. Product saturation
5. Product decline
After launching the product “Quench It” Quintessence wants the product to enjoy a long and happy life cycle. Although one can not expect the product to sell forever the company wants to earn a decent profit to cover all the effort and risk that went into launching it.
Management is aware that each product will have life cycle although its exact shape and length is not known in advance but it can be forecasted.
We did the survey of our product and the results were 75% of probable consumers were keen to buy and try our product.
Target consumers were from age 17 onwards. Our researchers found out that smokers were highest under age of 17 – 40.