Hi everyone! This past week in my marketing class we learned
about the product life cycle. Every good and service that enters the market
goes through a product life cycle. The stages in the product life cycle are
introduction, growth, maturity and decline. Although every product goes through
this life cycle, the duration of the cycle, and the shape of the curve can vary
significantly.
Apple has many products that are currently at different
stages of the product life cycle. Recently, they introduced a red colored
iPhone. Because this is a new product, it is in the introduction stage. This
stage is characterized by few sales and slow growth. Apple is selling red
iPhones in an effort to raise awareness, and money for the Global fund to fight
HIV and AIDS. By doing this, Apple is promoting corporate social
responsibility. Because this product is not significantly different than other
iPhones, it is considered a low learning product. Apple doesn’t really have to
teach consumers anything about this product because they probably already have
knowledge about iPhones, and all Apple is changing is the color. Nevertheless,
this is still a new product in the introduction stage and Apple has to bring
awareness to consumers.
Apple’s AirPods on the other hand are in the growth stage of
the product life cycle. This stage is characterized by many sales and
increasing market share growth. AirPods were introduced to the market in
December 13th, 2016. They have been promoted by Apple through
advertisements, including one that aired during Superbowl 51. Most Apple
consumers are aware of the new AirPods, and many are purchasing them. They
haven’t quite reached the maturity stage however, because they are still a
relatively new product.
Apple iPhones however are in the maturity stage of the
product life cycle. This part of the life cycle involves a slowing of total
industry sales and revenue. Apple has been developing iPhones consistently over
the years, and consumers are well aware of them. Also, many iPhone users are
“repurchasers,” meaning they consistently buy iPhones and do not switch brands.
Because of this, iPhones are in the maturity stage.
Finally, Apple has some products that are in the decline
stage. Apple’s iPods are definitely in this stage. The decline stage occurs
when sales drop. Many former iPod users do not need them anymore because they
have all their music on their phones. Because the demand for iPods has dropped,
Apple decided to harvest them, where they reduce the price of iPods and reduce
the marketing costs for promoting them.
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ReplyDeleteIt would be a mistake to assume that more integration always results in a better MEMS product. This misconception derives from semiconductor products, where greater integration often does result in better, cheaper, faster products. (In particular, this gave rise to the System-on-Chip, or SoC approach for digital ASIC design.) For MEMS, however, while there may be performance advantages to increased levels of integration, it should be deployed selectively and strategically. An illustrative example is the Analog Devices’ (ADI) ADXL 50, which was a MEMS accelerometer fully die-level-integrated with its electronics in the 1990s. Later, ADI split the MEMS and electronics into two separate chips that were integrated at the package level. Ultimately the package-level integrated system was a better product solution from both technology and cost points of view. thought leadership content
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