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AN ACCURATE REPRESENTATION OF THE STAGES IN THE PRODUCT DEVELOPMENT PROCESS To understand the new products work we need to look at the way new products work

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Introduction

E6- AN ACCURATE REPRESENTATION OF THE STAGES IN THE PRODUCT DEVELOPMENT PROCESS To understand the new products work we need to look at the way new products work, we need to look at how they are launched, grow and then die. the life cycle of a product is from when it hits the shops to when it is with drawed from the market and a business decides this when they decide whether or not the product is worth investing in anymore. Marketing managers need to be aware of what their product is worth and decide how long their life span is. This table below shows the five force analysis which shows the stages of which the products grow through during their life in the market place. ...read more.

Middle

Is the infrastructure in place? How long before a new product can be copied How loyal are they? I will at the life cycle of Walkers and see and look at the product life cycle of some of Walker products. Walkers are brand leaders and their crisps take over 40% of the shares most of their crisps are amongst the favourite flavours of the nation and their market share is 2.2 billon of the market shares. Their products will have a life cycle which will last as they are popular with consumers. STAGE 1 - INTRODUCTION AND LAUNCH A new pro duct on the market can be expensive to process. ...read more.

Conclusion

Price cuts and special offers and discounts may be giving to attempt to increase sales. STAGES 4 - SATURATION AND DECLINE At this stage the sales are now decreasing and price cuts and advertising and these are not enough to tempt the customer into buying these goods. The business may try to attempt to make a sale in a different way hoping that this will increase the sales. The product of Walkers has to go through particular stages of production and development to identify what is important to them and what this means for the needs of Walkers consumers. Once Walkers identify an opportunity the product they create needs to be approved by a panel. Once this is done and been through the product development it is ready to hit the shop. ...read more.

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