Product life cycle is a business analysis that attempts to identify a set of common stages in the life of commercial products. In other words the 'Product Life cycle' PLC is used to map the lifespan of the product such as the stages through which a product goes during its lifespan.
The four stages of product life cycle of Bournvita are as follows:
INTRODUCTION STAGE
The four stages of product life cycle of Bournvita are as follows:
INTRODUCTION STAGE
- Bournvita is among the oldest brands in the Malt Food category launched in 1948.
- It was heavily advertised as a kid's nutritional drink.
- It acted as a substitute of "milk"
- It acquired 17% market share.
- The drink was named by Cadbury which was derived from Bourneville, the model village which is the site of the Cadbury factory.
GROWTH STAGE
- Consistency
- Proper positioning
- Excels at delivering the benefits truly desired by customers.
- Big brand visibility
MATURITY STAGE
- Product quality
- By winning trust of consumer
- By getting better labels than its competitors.
- By getting a tagline such as, "Do you have the bournvita confidence" that got stuck in the mind of consumers.
DECLINE STAGE
- Bournvita has yet to go through the decline stage. However the other nutritional drinks such as milo, horlicks, complan, etc offer a great competition to bournvita and may soon push it to the reaches of the decline stage.
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