Question

Listed below are different products in various stages of the product life cycle.

Which stage of the life cycle is each in? What marketing strategies would you suggest to these companies?

1. Korsreel Bent Glass Drinking Straws
2. Google Pixel Watch

Answer 1

1. Korsreel Bent Glass Drinking Straws= This product is in its growth stage as the customers are now getting aware of the products and the demand for this is also increasing. At this point in the PLC, the company needs to advertise more about its product so that it can attract the attention of the maximum number of customers. The price needs to be competitive as there are many competitors in the market. The sales promotion activities must be targeted to induce the increased sales and distribution of the product should be increased to the intensive distribution so that the product can be provided to the customer at the arm's length

2. Google Pixel Watch= The product is still in its introduction phase as most of the customers are still not aware of the product. The price of the product needs to be relatively reduced so that more customers can afford it. There are some other companies that are also selling a similar product, thus some product differentiation needs to be imparted and more advertising is required to gain the attention of the customers.