Product life cycle is very important for a company. If studies it, the company is able to know what the positioning
ugg boots sale of product and it competition condition and provide proof for the strategy of product, which is
significant for a company to strengthen its competitive ability and strain capacity.
Product life cycle refers to the economic life of a product, that is a process during which a new product begins to be
very weak then goes to strong, at last goes to decline. Most of authors divide the product life cycle into four periods:
introduction, growth, maturity and decline. The concept of product life cycle usually can ugg boots cheap be used to
analyze product categories, product forms and brand. The product life cycle of product categories is the longest, the
period of maturity can be last for a long time, because product categories are close to the basic need of human and
the need of human is last. The product life cycle of product forms are most close to the typical mode. The product
life cycle of brand is very short. According to a study, the life product of a new product is close to ugg boots sale
three years, and now it becomes shorter and shorter. The product life cycle is various, I will introduce two kinds to
you. One is returning to the period of growth after being greatly promoted or repositioned. The other one is the
period of maturity is so long that there is no decline, and creates a new tide every now and then. The ideal product
cycle is: the period of development is very short, the invent is very little, the introduction and maturity is also short
and can reach the top fast. The period of maturity can last for a long time so that we can get much profits; while the
period of decline is slow, that is the reducing of profit is very slow.
Then what kinds of strategy we should use in different period? In the NFL jerseys period of introduction, we should
establish the reputation of new product, so we need promote to the best to draw the attention of potential
customers, trying best to open up distribution channels and occupy the market. In the period of growth, we can take
four measures as follows. First, we can try to improve the quality of product, add new function, feature and style;
second, we should open up new segment markets and add new distribution baby clothes channels. Thirdly, the
emphasis of promotion should be moved to establish the preference of brand. Fourthly, we should reduce the price
to attract the customers who are sensitive to price. When going into the period of maturity, we can adapt the
market to find the new segment markets and chance of promoting, especially the new market as well as improve the
quality of goods. In the last period, we should do three things to deal with the product. Firstly, we should establish
a set of institution to check the declined product regularly. Next, we should decide the strategy of promotion. At
last, we should make up mind to give up the product which has not been welcomed by the market.