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Tesco Product Life Cycle

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Every company tries to create new products to keep its competitive position.
Product development passes through different stages starting from the product’s idea until the product maturity stages, companies try to develop different marketing strategies that suitable for every stage in PLC and market dynamics (Kotler, 2000)

There are many challenges facing the new product, so its fact that not all new product catch on or will success due to different factors, so companies try to keep their successful product life and profitable as long they can through different extension strategies (Kotler, 2000)

2.2 Product Life Cycle Stages
PLC concept
Means that product life cycle characterized by:
(1) The Product has a limited life and will …show more content…

this policy has an impact when the product comatable with the customers need
- Increase the product quality or durability or add new features or benefits for the existing product
-Re-launching the product can be with a new name, so re-branding a mature product may be difficult approach to extend PLC, re-branding results in changing in packaging , name and total appearance of the product but customer here trust the quality of the original product

2.5.3 Marketing-mix Approach
Through modification of non-product strategies which are :
- Price, sales promotion , advertising, service and distribution.
- Offering of price discount or sales promotion give the chance to attract new segment or attract competitors’ customers
- Using of new compagain or new advertising to reach new segment and new market
- Using new distribution channels expand product exposure to new customers
(Paley, 2005)

2.6 product life cycle and user …show more content…

Companies may go through repositioning of the product, or Introduction of the product with new name, and new price this will extend the usage of the product
Existing product and model changes are more frequent in this market (Sharma, 2013)

Pharmaceutical market
High competition in the pharmaceutical market between multinational companies and between multinational and generic companies threatening drug brands earlier in product life cycles. Companies spend billions of dollars in R& D so they need to extend PLC as long as they can
PLC management and extension strategy should start from the R& D section for which indication and which therapeutic area to invest in.
Some factors should be considered in drugs lifecycle

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