who is the innovator of Product Life Cycle? in context with Marketing?

Answer 1

Product Life Cycle refers to the progression or course of a product's sales and profits over its life time. A product passes through five satges:
1. Product Development Stage,
2. Introduction Stage,
3. Growth Stage,
4. Maturity Stage, and
5. Decline Stage.

It is to be noted that a product may not pass through all the five stages. For instance, a product may be developed, introduced and then withdrawn from the market. A relauncehed product will have a new life cycle.

Stage 1 (Product Development Stage) : It begins when idea is developed to launch a product. This stage is characterised by no sales, no profits, investment in R&D and test marketing.

Stage 2 (Introduction Stage): This stage marks as an entry of product. It is characterised by low sales, high promotional expenditure and loss or negligible profits.

Stage 3 (Growth Stage) : Here, the product is poised for growth. It is characterised by rapid growth in sales, rise in profits, intensive promotional effort and increse in competition.

Stage 4 (Maturity Stage) : At this stage, a product is well settled in the market alongwith its competitors. The brand is well known and marketer may resort to brand extension. It is characterised by stagnation of sales, decline in profits, reminder advertising and intense competition.

Stage 5 (Decline Stage) : This is the last stage where sales decline due to entry of new and improved products or due to change in consumer habits. It is characterised by decline in sales, decline in profits at a rapid pace, minimum promotional effort, modification in product and repostioning of product.

Answer 2

This is not an innovation. What happens with any area of study/specialty, is that when looking over the long term of the area of specialization, certain trends, events, etc are studied empirically and reported. This usually arrives from graduate thesis work or PhD dissertations.

Answer 3

Pl refer to book 'Marketing Management' by Philip Kotler, you will get the real answer otherwise ppeople will quote from that book and teell u as his experience.

Answer 4

i dont know