Learning Team Meeting Three Assignment D. Describe The Pace At Which Your Product Will Move Through The Product Life Cycle And The Factors That Will Impact Its Movement.

2145 words - 9 pages

Learning Team Meeting Three AssignmentD. Describe the pace at which your product will move through the product life cycle and the factors that will impact its movement.Product Lifecycle Management, PLM, integrates engineering, manufacturing and service to reduce costs, improve quality and reduce time to market. Today, PLM has evolved to include the entire enterprise. This means coexistence with other point solutions and enterprise applications for product information and operations is important. Over time the profitability and the types of customer change and the marketing cost per customer varies. By analyzing these indicators - profit, competitors, cost per customer, customers, and sales - Toyota can determine which phase of the product life cycle their product has reached or is moving towards. There are 4 phases: Introductory Phase, Growth Phase, Maturity Phase and Decline Phase. Once Toyota has identified the phase by analyzing the indicators (characteristics) through research, Toyota can formulate their marketing objectives for that phase and develop a marketing strategy for that phase. Toyota can do this until there product has reached the decline phase and they decide to discontinue production and sales. INTRODUCTION PHASE: Toyota has to decide how much money to spend on promotions, bearing in mind limited resources. Demand must be calculated carefully in order to estimate units that can be sold at the correct price. A lot of money was spent on research and development, so the aim is to recover costs as soon as possible and start making a profit. Fifty percent of new product ideas fail. The company must do ongoing consumer research and stay in touch with customers to evaluate reaction to the new product. To launch the Toyota Alissandro Volta, and enjoy a successful campaign the public relations organization must identify several objectives. This amazing futuristic automobile is a high performance hybrid. It is sleek and very sporty with 408-horse power. The hybrid synergy drive has a 3.3-liter V6 engine with an electric motor for each axle. The Volta not only delivers 435 miles on a 13.7 gallon tank but goes from 0 to 60 mph in a mere 4 seconds.A gala event will be held for the unveiling of the Volta. Media, including television and radio and print ads will be timed to release coinciding with the launch. Gaining a celebrity endorsement, most likely a racecar driver or even perhaps giving away Volta's to certain celebrities will enforce the desired image. Forming a partnership or sponsorship with another entity such as NASCAR offers another source of exposure. This multi-tired media push will also result in many local and national TV news shows running segments on this attention grabbing car. Auto shows are to be planned in numerous cities all over the country. To illustrate just how far hybrid design has come, an early version hybrid will be displayed. Its' quirky appearance and performance of only 115 horse power will stand in...

Find Another Essay On Learning Team Meeting Three Assignment D. Describe the pace at which your product will move through the product life cycle and the factors that will impact its movement.

International Product Life Cycle Essay

932 words - 4 pages INTRODUCTION In this essay will explain and evaluate the stages of the international product life cycle and identify locus of operations and target market at each stage. We also will identify the different dimensions of the international product mix with company illustrations and examine the new product development process and the activities involved at each stage in international markets. Finally we will also will examine the degrees

Product life cycle Essay

542 words - 2 pages A product life cycle deals with the life of a product in the market, with respect to the business costs and sales. A product goes through three stages in the design cycle and these stages are introduction, maturity and decline.The first stage is the introduction stage and in this stage, the product created and is promoted to create awareness as sales will be low until customers become aware of the product and its benefits. The primary goal of

Product Life Cycle

1550 words - 6 pages in the past 10-20 years. Refrigerators are a product that has lingered in the maturity phase for decades. Moreover, refrigerators will remain in this stage of the product life cycle until a new technology emerges that fills the existing product need but at the same time provides a dramatic benefit over existing brands and models that will create intensive consumer demand. In addition, a refrigerator is a product that a consumer will purchase and

BMW's Product life cycle.

655 words - 3 pages product introduction.BMW car has only two-stage of product life cycle, introduction and growth stages. The X5 series and the 3 series were introduced in 2000 and 2001, respectively. Based on BMW's product life cycle, these two series are both in the Growth stage. BMW introduced three versions for each model of the 3 series. The X5 also has three different versions that satisfied different consumers' preferences. BMW's website provides a great access

Product Life Cycle Analysis For The Apple Ipod

1616 words - 6 pages phenomenon has developed an entire industry for the personal digital music player. There is now advertisement that is designed solely for iPod podcasts. Users are able to download their favorite TV shows free of ads, but advertisers are quickly finding ways to let themselves in this new medium. With so much interest being put in the iPod and its new developments it is even more difficult to picture the decline stage of this product life cycle: But

Product Lifecycle of the MP3 Player Discusses: Nolan/Norton Technology Cost, Product Life Cycle, and Stages of Production.

1141 words - 5 pages ) is very similar to the MP3 player's Average total cost during the product life cycle. Technology, regardless of the type or implementation, is still an overhead cost that will be part of the average total cost, which helps explain why the technology costs per unit of output are extremely high at the beginning of the Introduction Phase and begin to decline as the product moves into the Growth cycle. The NNTC remains level throughout the Growth

The Drink That Will Change Your Life!         Wouldn’t be great

1954 words - 8 pages The Drink That Will Change Your Life! Wouldn't be great to be someone different? In today's world of advertising many advertisers are trying to make the average consumer feel as if being someone else is possible. The advertisers behind "Gatorade", "Tropicana", and "Dr. Pepper" use this type of advertising to attract buyers to their products. The following commercials are perfect examples of how advertisers exploit consumers. The

Analise E.on UK, through studying industry dynamics and Porter's 5 Forces. Identify competitiveness of the key marketing features in the company, through studying product life cycle and innovation.

2297 words - 9 pages company more energy efficient. Porter wrote, ‘introducing a significant technological innovation can allow a firm to lower cost and enhance differentiation at the same time.’(Porter 1985, p.20) Thus, E.ON UK is extending the profitable life of its services through innovation. It is important to note that the length of stages of the PL depends on the product, there is no definite time when the product should transfer from the first stage to

Understanding Product and Process Life Cycle

2643 words - 11 pages stage. Whether a product or a process, manufacturers or companies need to be aware of the stage in which the product or process is within the life cycle. The stages of the product or process life cycle include the introduction period, growth, and maturity (Meredith & Shafer, 2013, p. 37). These three stages are directly related to the amount or product or services that should be available. The stages in which the volume is determined are

Product Life Cycle and New Product Pricing and Mix Product Pricing Strategy

1676 words - 7 pages Product Life Cycle StrategiesProduct, which is "anything that is capable of satisfying customers needs". Every product have a "life cycle" which similar as living organism, product will growth, become mature and decline. The stages of product's development, called "Product Life Cycle".Product Life Cycle included five stages: Product Development, Introduction, Growth, Maturity and Decline.Real market situation1. Introduction StageAs the name

Pasta Hut and Pizza Hut , product life cycle

1025 words - 4 pages On April 2008, Pizza Hut announced the introduction of a new product line called the "Tuscani Pasta". Like any product, this product has a life cycle. Different strategies should be maintained through each stage of the cycle in order to move the product throughout the cycle.1.Introduction Stage:The main purpose of this stage is to introduce the new product to the market. The company must be aware of the tremendous amount of time and money which

Similar Essays

The Product Life Cycle Essay

1014 words - 4 pages CD Players are moving towards the decline stage while ipods are stepping in the Growth Stage. In this assignment I will take a look at the product life cycle of a hi-fi system we use at home. The introduction of hi-fi systems in the market made other products go through the decline stage or even be pushed out from the market because hi-fi took their place. Such products are the redifussion, and home stereos with only cassettes and with

The Product Life Cycle Essay

2347 words - 9 pages What is the product life cycle? The PLC indicates that products have four things in common: (1) they have a limited lifespan; (2) their sales pass through a number of distinct stages, each of which has different characteristics, challenges, and opportunities; (3) their profits are not static but increase and decrease through these stages; and (4) the financial, human resource, manufacturing, marketing and purchasing strategies that products

Can The Drop In Music Sales Be Explained By Michael Porters Product Life Cycle And Will The Cd In The Near Future Be Replaced By Mp3?

4743 words - 19 pages economic factors, album prices, portability, substitutes and changes in music and audience. Liebowitz finds that none of these factors have enough impact on CD sales to explain the recent decrease. Therefore, he concludes that "the evidence is most consisted with a claim that Mp3 downloads decrease sales. Nevertheless, it is unclear whether the damage to the industry will be fatal."At which stage of Porters Product Life Cycle model is the product

Product L Ife Cycle Essay

967 words - 4 pages development teams, it provides a method of getting decisions made and defining bound of empowerment. For both, it defines the phases, steps, tasks, and activities that move a product quickly through the life cycle.The PLC process is based on the principle of cross-functional teams working within a structured process moving toward a common goal. This allows decisions to be made at the level where there is the most information and in a way that