Product Life Cycle Essay

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Some people feel that marketing is nothing but placing an advertisement that sells a product or service. It is far more complicated than that. It requires many tools, methods, and concepts in order to ensure the product or service success. Marketing requires much forethought and strategies. Marketing needs to be handled in a methodical and organized fashion, otherwise risk for failure is inevitable. Many feel that competition is bad for marketing, yet it is actually a great tool in which marketers can adjust their product or service offerings. Even though healthcare mainly consists of services, these services still need to be sold to the public. This essay is going to demonstrate all of the different tools, techniques, methods, and concepts

A Product Life Cycle can vary due to various marketplace product or service offerings. Maturity length of time may vary because the end consumer was not prepared to accept the new offerings. Faster maturity breakthroughs can be a direct result of certain production service breakthroughs that usually get accepted quite quickly. Decline of a product or service can be the result of a customer interest and then disinterest. When a product or service does not extend its growth, it can be because the product or service has lost its usefulness. In conclusion, The Product Life Cycle can be used as a marketers planning tool to create portfolio planning, strategy formations, as well as future forecasting. One must never to marketplace, and competition. (Fortenberry, J. L.,

The SWOT analysis is a perfect tool to use by looking at a product or services strengths, weaknesses, opportunities, and or threats. This assessment sets aside the organization, and mainly deals with the product or service itself. When thinking about strength one has to think about what sets this product or service out to be noticed. This could be accomplished by having had a strong research and development process, an extensive customer service setup, or anything else that might make the product or service stand out in the marketplace. Weakness is actually anything that might affect your product or service negatively. This might include poor customer service relations, a product that has poor quality, and maybe even a product or service that is not supported by a good marketing team. Opportunities have positive influences on a service or a product. This can be in relation to the creation of new purposes the product or service can be used for, successful market growth, or general achievement of notoriety. Threats have a negative impact on a product or service. It may include the change of what a customer may need, want, or desire of your product, governmental influences to product or service required changes, fellow competitors offerings exceed that or your product or service, and the non advancement of technological