What is the product life cycle of Coca-Cola?
Coca Cola – PLC The product life cycle was introduced in the 1950’s. It was used to explain the typical life cycle of a product from the time of its inception to its demise. The product life cycle is divided into four phases; these are product introduction, growth, maturity and decline.
What stage in the life cycle is Coca-Cola in?
Coca-Cola is currently going through the maturity stage in Western countires. This maturity stage lasts longer than all other stages. Management has to pay special attention to products during this stage of the product life-cycle. During the maturity stage, products usually go through a slowdown in sales growth.…
What is product life cycle with diagram?
Product life cycle diagram is the graphical representation of four stages of a product life namely: Introduction, Growth, Maturity and Decline phase. Product life cycle also called PLC is a concept of marketing that tells about the various stages of a product in its entire existence period or life.
Why Coca-Cola is in maturity stage?
Maturity Stage For example, companies such as Coca-Cola and Clorox advertise their mature products to reinforce the brand with the public. During the maturity stage, a company’s focus is to maintain market share and extend the product life cycle as much as possible.
Where is Coca Cola more generally on the product life cycle?
Coca-Cola is a great example of a product that has had a very long product life cycle. Since being introduced in 1886, it has spent the majority of its life in the maturity stage.
What happens in the product life cycle of Coca-Cola?
By: Azzeza Mussa The Product Life Cycle of Coca-Cola The Growth Stage The Maturity Stage Number of potential new customers decline and the sales of a product typically begins the level off. Competition causes profits to fall until the strongest competitor is standing.
When did the Coca Cola Company come out?
Chandler formed the Coca-Cola Company in 1892 and by 1895 Coca-Cola was being drunk in every state across America As demand grew, production increased and Coca-Cola was made available in bottles rather than just through soda fountains Increasing sales, more competitors, and higher profits. Competitors are beginning to enter the market more rapidly.
What are the marketing strategies of Coca Cola?
Coca-Cola is currently in this stage. To extend it’s mature stage coca-cola has developed the following marketing strategies: product improvement, new models were developed, it entered new market segments, and enlarged its distribution channels
What are the phases of the product life cycle?
The product life cycle is divided into four phases; these are product introduction, growth, maturity and decline. The goal of managers is to maximize the life cycle of the product and its value and profitability at each stage. PRODUCT INTRODUCTION This is the stage when the product is developed and introduced into the market.