Question

Topic: Other

Product Life Cycle, Which Phase?

Posted by Eli on 7/15/2014 at 4:10 PM ET 25 Points
Hope anyone could help me? Working for a company who sell st@irlifts. Making my analysis, to start with a good marketing communication strategy I have the following problem:

In which phase of the product life cycle is my product?

Statement: Potential customers (leads) doesn't know anything about st@irlifts and brands/manufacturers before they need one. So I suggest I don't need to define the product life cycle of our particular products So that's why I want to define the phase in which "the st@irlift" is.

Arguments: market is growing (babyboom), sales is growing. > growth stage
But on the other hand, it is not a product for early majority. It is there for years now. So maturity could also be the right one.

Could anyone help me to justify the choice for one of the phases with the right arguments? I need it to choose the right positioning strategy and I'm doubting for days know.

Thanks in advance.

Thanks in advance.

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RESPONSES

  • Posted by mgoodman on 7/15/2014 at 5:53 PM Accepted
    I'm not sure that coming up with a label for the lifecycle stage is going to solve any problems for you, but I'd say it's a mature product. Mature products can still have growth spurts and be new for new market segments.

    I'd focus on your objective, the target audience definition, and the unique benefit you offer for that target audience. Those matter more than a lifecycle stage characterization.
  • Posted by Gary Bloomer on 7/16/2014 at 12:44 PM Member
    I'm confused. Your question does not make sense.
  • Posted by Eli on 7/16/2014 at 1:14 PM Author
    Thanks. Mgoodman. That s a point of view I can use. I have to do my job to find the right UBR for a company who isn't the best in product and isn't the best in price. I m struggling.

    Gary, sorry your answer doesn't make sense. I'm open to a critical respond but maybe you could better give me some response that could help me than this one.

  • Posted by mgoodman on 7/16/2014 at 3:50 PM Moderator
    Not sure what a UBR is, but there must be a market segment for which you have a better offering, or you wouldn't sell any. Maybe you are too focused on the technical specs of the product and not paying enough attention to why your customers buy the product.
  • Posted by Eli on 7/16/2014 at 3:55 PM Author
    UBR = unique buying reason. Tomorrow I have already an appointment with one of our customers, to find the "why". I know I have to go far away of the technical specs, but sometimes it is difficult in a production company.
  • Posted by Gary Bloomer on 7/16/2014 at 10:23 PM Member
    My answer did no make sense? Nonsense. You contradict yourself: you tell us you "don't need to define the product life cycle of our particular products" before going on to tell us that "that's why I want to define the phase in which "the st@irlift" is." So, you either need to define your product life cycle or you don't.

    If you're meeting with clients to find your why you are looking for the wrong thing in the wrong place.

  • Posted by Eli on 7/17/2014 at 1:17 AM Author
    Gary, You don’t understand what I mean. I tried to explain the difference between our productlines and the complete productgroup. I did asked the question to receive input for the plc of the productgroup. But that doesn’t make sense anymore. I have found the answer or maybe not the answer but the right input to go further.
    Thanks.
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