Factors affecting product life cycle ppt. What are the factors affecting product life cycle? 2022-12-13
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The product life cycle is the progression of a product from its introduction to the market to its removal from the market. Understanding the product life cycle is important for businesses because it can help them plan for and make strategic decisions about the product at each stage of its life. There are several factors that can affect the product life cycle, including market factors, technological factors, and internal factors.
Market factors refer to external factors that can impact the demand for a product. These can include economic conditions, consumer preferences, and competition. Economic conditions, such as a recession, can decrease demand for a product, while a strong economy can increase demand. Consumer preferences can also affect the demand for a product. For example, if a new trend emerges and consumers begin to prefer a different type of product, the demand for the original product may decrease. Competition is another important market factor that can affect the product life cycle. If a new product enters the market that is similar to the original product, it can decrease the demand for the original product.
Technological factors refer to changes in technology that can impact the demand for a product. These can include the development of new technologies that make the original product obsolete or the improvement of existing technologies that make the original product less appealing. For example, the introduction of digital cameras led to a decrease in demand for film cameras.
Internal factors refer to factors within the company that can affect the product life cycle. These can include the company's marketing strategies, production capabilities, and financial resources. Marketing strategies can impact the demand for a product by increasing or decreasing awareness of the product. Production capabilities can also affect the product life cycle by impacting the availability of the product. If a company is unable to meet the demand for a product, it can decrease the demand for the product. Financial resources can also impact the product life cycle by determining the company's ability to invest in the product and keep it competitive.
In conclusion, there are several factors that can affect the product life cycle, including market factors, technological factors, and internal factors. Understanding these factors is important for businesses as they can help them make strategic decisions about their products and plan for each stage of the product life cycle.
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In the second phase, we extracted information about each domestic antibiotics manufacturer, and the medicines with sales information for less than ten years were excluded. The product life cycle states how the product is performing in its respective stage. Effective order taking and delivery salesmanship. Wendler T, Gröttrup S. Not all products need to go through all stages, some fall at the initial stage, and others may reach at maturity stage after a long time. So the shape of a style life cycle is like a wave, as one style fades out, another appears.
Luo L, Li J, Liu C, Shen W. Complete understanding of the marketing environment. Int J Health Plann Manage. Blair provided a great edit to the manuscript. No or low trial and no market share.
What are the 7 stages in the new product development process? J Pharm Mark Manage. The factors that determine or affect a product design are as follows: Requirements of targeted customers. Using a generalized linear model combined with a machine learning approach, we identified the sales patterns and the effect of the product-related and the competition-related factors on the PLC curves, peak height, and the time to reach peak sales. Considering the DDD instead of digital sales in future studies is recommended. Besides collecting these variables for all medicines, we collected the following data for the drugs with one peak in the PLC curves: Time to reach sales peak, sales volume in peak time, and market share in peak time. Conclusions: This study examined factors affecting the PLC patterns of generic pharmaceutical products. What are the stages of product cycle? What are the factors that affect product management decision? J Open Innov Technol Mark Complex.
Quick Answer: What Are The Factors Affecting Product Life Cycle
Hemphill CS, Sampat BN. How does product life cycle affect marketing strategy? Mandal A, Nigam MK. What is the first stage of the product life cycle? The duration of each stage is different for different products. What are the stages in a product life cycle? What are the tools used to accomplish this? Variables affecting the business cycle include marketing, finances, competition and time. IndustryImportant Factors - Market Type- Product Category - Product- Marketing Strategy - Competitive Intensity18 6. These four stages are known as its life cycle. Rationalizing outlets, locations andsupply quantities.
Narrow product lines 2. Objectives: This study investigated generic antibiotic PLCs and detected factors affecting them in the competitive pharmaceutical market of Iran to improve the PLC management of such drugs. Every product cycle starts from an introduction of the product in the market and it is ceased after passing through the market growth and market stages. In the first phase, the numerical sales of 261 generic antibiotic medicines were assessed in Iran during 2002 - 2017. Economic and managerial forces. Among 280 medicines, including all dosage forms with sales information for above ten years, 19 medicines 6% had sales patterns not fitted any regression line. Kebriaeezadeh A, Koopaei NN, Abdollahiasl A, Nikfar S, Mohamadi N.
Factors Affecting the Product Life Cycle of Generic Medicines
Global antibiotic consumption 2000 to 2010: an analysis of national pharmaceutical sales data. We have sent you. Cui G, Leung Wong M, Zhang G, Li L. In some cases, our findings are consistent with Fisher's study The next point is that reaching peak sales sooner in the generic pharmaceutical market may be correlated with an increase in cumulative sales during PLC. Quality - - 0. Sales forecast or projection realism. Trend analysis of the pharmaceutical market in Iran; 1997-2010; policy implications for developing countries.
What are the factors affecting product life cycle?
Drivers of peak sales for pharmaceutical brands. In this regard, four general sale patterns were detected: 16% of the medicines had linear sales growth with a positive and negative slope; 11. DVDs are in the decline stage, and flat-screen smart TVs are in the mature phase. Br J Math Stat Psychol. Previous studies According to the above-mentioned studies, we considered two-factor categories affecting the PLC curves, according to which five hypotheses were formed: 1 Product-related factors, including quality, microbial spectrum, and dosage forms ease of administration. At each stage, marketing strategy varies.
We combined GLM with a machine learning technique to increase model performance by tracking the model fitness in training and testing datasets and providing acceptable training processes 3. Prescribing patterns and associated factors of antibiotic prescription in primary health care facilities of Kumbo East and Kumbo West Health Districts, North West Cameroon. Bergström R, Höög S. Vulnerable to competitive threat. The factors that affect the product management decisions :- Customer need satisfaction.
