Tuesday 12 August 2014

Product Life Cycle


Like human beings, products also have an arc. From birth to death,human beings pass through various stages e.g. birth, growth, maturity, decline and death. A similar life cycle is seen in case of products. PLC has to do with the life of a product in the market with respect to business/ commercial costs and sales measures.

The four stages of product  life cycle of horlicks are as follows:

1.INTRODUCTION STAGE- 
  •  Horlicks a brand was established before 6 decades back in 1960.
  • It is owned by GlaxoSmithKline consumer health care.
  • It was heavily advertised as a kid's nutritional drink.
  • It was a substitute of "Milk" as baby food.
  • It acquired more than 50% market share in Indian milk beverage market.
2.GROWTH STAGE-
  • Excels at delivering the benefits truly desired by customers.
  • Pricing strategy based on 'value for money'.
  • Proper positioning.
  • Consistency.
  • Creating entry barriers.
3.MATURITY STAGE-
  • Product quality.
  • By winning trust of consumer.
  • By getting better labels than its competitors.
  • By getting a tagline such as ,"taller, stronger, sharper" that got stuck  in the mind of  consumers for years.
4.DECLINE STAGE-
Horlicks has yet to go through the decline stage. However the other nutritional drinks such as milo, bournvita, complan etc offer a great competition to horlicks and may soon push it to the reaches of the decline stage.

No comments:

Post a Comment