Product Life Cycle with Examples - Aayush Jain

Product Life Cycle stages - Introduction, Growth, Maturity, and Decline.

The product life cycle (PLC) is explained here -
https://aayushjain.com/product-life-cycle-best-examples/

As a Product Manager, this is what you constantly need to think about. This forms the basis of product management and product marketing.

1. Product Life Cycle (with Examples)

2. About Me 01 PLC Definition PLC Stages 02 03 PLC Examples 04

3. About Me aayushjain.com @AayushJain1

4. Product Life Cycle (PLC) Growth Introduction Maturity Decline

5. Product Life Cycle (PLC) - Curve Source

6. Introduction Stage Product is launched in the market I n the initial phase T rying to get customers Need to build a loyal customer base – by building awareness, offering freemium versions (CTA) – focus not on profit

7. Introduction Examples Smart Glasses Online Healthcare Virtual Reality (VR) Headsets Flying Cars

8. Growth Stage Occupies mindspace Gets noticed Organic growth U sage growing everyday People like/recommend your product

9. Growth Examples Electric Cars Internet of Things ( IoT ) Devices AirPods Organic Foods

10. Maturity Stage Reaches saturation with your target audience Product is well known People are fully aware of the product E stablished brand name Don’t fall into the marginal utility trap

11. Maturity Examples TV Cable Connection Fuel Gasoline/Diesel/Petrol Cars Non-Internet Kitchen Appliances Personal Computers

12. Decline Stage Declining profits – won’t make sense for your marketing costs Newer products better fits for your marketing budget B etter products entering the market They have a fresh look and offer better features for a lesser price/for free Need to refresh your product (if possible)

13. Decline Examples CD/DVD Players Landline Phones Video Cameras Waterfall Model

14. Failed Product Examples Orkut Ahead of its time Google Glass Lack of a fashion sense Google+ Lack of focus – Facebook does one thing, but does it right Amazon Fire Phone Again, lack of focus

15. No One Size Fits All Look out for change – if anything changes, what is your communication/marketing/feature strategy? Before you get it right, you will get it wrong (a lot) Don’t expect your graph to match exactly with the “theoretical graph” Will take time to build a loyal customer base

16. No One Size Fits All - Illustration Source

17. Nokia Source

18. Apple iPod Source

19. Let’s Connect! aayushjain.com @AayushJain1

20. T hanks !

21. Credits Presentation template by Slidesgo Icons by Flaticon Text & Image slide photo created by Freepi k