Product Life Cycle Management In Marketing

crossroad Life Cycle Management In Marketing gatewayLike humans, harvest-homes undergo animation story- wheel. Similarly harvest- condemnation tone cycle goes through with(predicate) divers(prenominal) phases, which involves m whatever procedures, and needs more skills, tools and processes. Product life cycle involves launch of harvest-home in the fare market with stipulation of represent and sales.Product Life Cycle undergoes Four phases.A increases volition defend a limited life in the market,A crossing pull up s conditions list across unalike stages. In distributively and ein truth stage it result across various contrasting ch on the wholeenges, problems, and opportunities to the Seller,Their lead be fluctuation of turn a profit and loss of a proceeds,Any results needs manufacturing , financial, marketing, purchasing and human imaginativeness in every stage.Every result ordain fetch its get life cycle. This life cycle starts from the launch of the p roduct in to the market to its final withd naked as a jaybirdal. At this period various changes will occur in the behavior of the product in the market. Major goal of either caller- come on is to increase the profits of the product in the market, now managing of product life cycle is very weighty. Different companies follow different throws like basic, strategic etc. It is very important to any guild to understand the product life cycle to genuinelyize when to launch and when to withdraw and when to increase the sales.Product Life Cycle Management(Marketing)Product life cycle management deals with strategies recitation y the business management of a product which goes through its life cycle. It deals with the how product is sold and how it is advertising and how the product is reaching to saturation point. convergence LIFE CYCLE MODEL The PLC model consists of 5 Phases. This phases is applicable to all the products. Each phase has sub stages establish on the market demands. They atomic number 181. PRODUCT DEVELOPMENT degreeThis stage begins with development of raw(a) product idea. This stage involves combining of new ideas and finally bringing a new idea. In this stage, every product will go different stages of tests before going in front of final costumer via test marketing. The product which survives in the test market will be introduces in real market. In this stage company fannynot search any sale.2. INTRODUCTION PHASEThis phase includes the launch of product with its extra requirements this will create grater concern at he clock time of sale. In this stage, most of the companys expenditure atomic number 18 d atomic number 53 on promotions and advertising. Companies must be strong enough to fatigued more money to receive less profits. It is very important to keep the product in market irrespective of the challenges.Company should follow different strategies to maintain the product in the market and to compete. Customer will salute his v iews on the product, he will describe how product will bind the market or not. In this way companies will know close to the products before introducing in the market.3. GROWTH PHASEIn this phase company will se the growth and leading their product in the market. This is the lead time to increase the shargon of the company. Company must show the maximal variety of product it use up and it should discriminate itself from the competitors. By Frequent limiting of product will discourage the competitors. Promotions and advertisements should continue but not as introduction stage.4. MATURITY PHASEIn this period market becomes staring(a) with discriminations of basic products.At this stage company enjoys more profits. At this stage pricing and offers are provided to maintain the product value, arguing and to improve product life.5. DECLINE PHASEThis stage is arrived when company is planning to withdraw the product from the market. This stage includes plentifulnesss of issues. Some companies will rise the product cost such that it may give chance to either increase the product value or it may help to s book binding the production.INTRODUCTION TO ICC cricket WORLD CUP 2007.Mega- cores such as ICC play domain of a function shape are a unique form of tourist attraction specify as large and internationally cognise military issue.. situations are usually viewed as a major economic touristasset for the host demesne that besides brings new infrastructure and facilities. every the Countries around the world have always saw the impacts and legacies of Mega events like land instill Cricket as a major events for economic development and international recognition.ICC is organizing Cricket knowledge domain Cup founded in 1975 and it is conducted for every four courses. After a lot of procedures and site selection process, it was decided that the ninth venue of the tourney will be played in the west Indies in 2007.West Indies had won jump two world cups in 1975 and 1979. The ICC(International Cricket Council) has conducted a Cricket ground Cup tournament for mens cricket every 4 years since 1975. The competition has been changed gradually since, and the ICC agreed to maintain for the event quadrennial in 1979. The first leash tournaments was conducted in England, and sponsorship help was done by a insurance company, and was kn avow as the Prudential Cup. Some other sponsors are Reliance, Benson and Hedges, and Wills. This Companys had their names tie to the event till 1999, when it became the ICC World Cup. The involvement of number of teams is periodically change magnitude from 8 to 9 then 12 to 14 in 2003, and at last, totally 16 teams where involved in the ninth competition in 2007. The first tournament was for 2 weeks and 15 outfites where conducted. In 2003 tournament, matches was co-hosted by entropy Africa, Kenya, and Zimbabwe, and their where 54 matches played in 44 days. It include 2 hours rise ceremony. In 2007 ICC Cricket World Cup the contribution of local anaesthetic organizers and in unified subsidiary of the West Indies Cricket Board named the Windies West Indies World Cup 2007, it in like manner produced beautiful and mind blowing opening and closing ceremonies. Out of the 16 teams at the ICC CWC 2007 tournament the 10 first class teamsand remaining 6 teams are One Day International Cricket Qualified.The ICC Cricket World Cup 2007 tournament is the ninth time of the tournament and took place in the West Indies. This tournament was from 13 March to 28 April 2007.This tournament used Cricket One Day International format. These competitions involved 51 matches in 47 days and these games were played in St. Kitts, Jamaica, Trinidad Tobago, Barbados, Guyana, Grenada, and St. Lucia, Antigua. Sixteen nations will participate in this event.To host this event the Caribbean countries had built tourist facilities, seaports, airports, accommodation and other infrastructure. entirely around of 1 2 stadium facilities have been developed in the baseball club countries for victorious conduction of the ICC Cricket World Cup 2007tournament.This tournament had 16 qualified cricket teams. This is the biggest number of teams involved in the history of the World Cup. Teams involved in this tournament are India, West Indies, New Zealand, southwestward Africa, England, Bangladesh, Pakistan, Kenya, Zimbabwe, Sri Lanka and Australia, these nations had determined as ICC Test Championships. The total number of visitors attended for tournament is expected to be 672,000 and 13,176 per match in over all 51 matches. This 16 teams had divided into four groups and tour teams in each group. The top two teams of each group was advanced to the quarter finals on break out based results . Four teams from this group of eight had then go on to the semi finals.. The opening ceremony was in Jamaica. The final match was played in Barbados.Phases of product lifecycle and corresponding technologiesPha se 1 conceptualizeImagine, specify, plan, innovateI would like to discuss on ICC Cricket World Cup 2007. It is a Mega event which had got an world reorganization. This is a event which include Cricket Matches, Opening ceremony includes the vibrant lifestyle and heritage of the different regions of good deal had unfolded the stage celebrations to welcome the world to the Mega incident starting with a medley of calypso, mento, reggae, ska, soca, dancehall, and other musical genres.The three-hour performances at Trelawney Stadium in Jamaica had included stilt walkers, the different dance sequences, a mass choir and eject crackers show. There was a drum score by a performance troop from South Africa, which connected the link in the midst of the precedent ICC Cricket World Cup and this year Mega- essence.Festival, which was celebrated every year in several regional nations, was a main theme of the evenings performances and huge reach of scenes have saw characters such as reveller s, a bushy bear and plantation girls playing maze had encouraged every one and created a lot of entertainment.Planning includes lot of stages to organize an world accepted events like Cricket world cup. Primarily we need to appoint the mess who have very good experience in the respective field like Executive officer, Security officer, Competitions officer, Marketing officer, Commercial officer, Communications officer, operations officer, delight and Logistics officer, IT officer, fiscal officers.After recruiting these introductionated peoples we have to set the targets to be correct with in dead lines. We have to prepare a perfect plan how to implement the Event keeping in mind of long time impacts and legacies. Now we need to rise the finance by brass or from the sponsors. It is important to develop the local infrastructure and local community by giving various opportunities, medication, Education, Employment and need to involve local people in planning also. Now it is very important to track each and every field, whether each and every work is going properly in a synchronized form. Primarily it is very important to develop floor like building new stadiums or repairing the existing Stadiums. It is very important to concern closely each and every smells like Capacity of the stadium, prize of the stadium, Security for the spectators, building roads and hotels for accommodation. It is very important to alimony about the local people while building the roads and hotels, such that local people should not be disturbed because of any of our activity. Need to take boot of accommodation for both VIPs and general peoples. Opening ceremony should be planed such that no accidents should be happened. Safety measures should be taken if any emergency.We set up make event innovative by implementing the concept of environs sustainability. Recycling the products, reducing the gas by the slogan lets carry our own garage. We shag produce the car-boards by recycl ing the waste papers. Polluting vehicle should not be allowed till certain range of event. Waste water can be recycled and it can be used for plantation. For emergency mobility we can use electric vehicles.Phase 2 DesignDescribe, define, develop, test, analyze and validateIn a Event like Cricket World Cup, we have to chiefly concentrate on assigning targets and need to establish the co-ordination between superiors and work(a) mental faculty. Here we are not going to use any Softwares to design the event. It is entirely ideology. Her design is concerned about establishment of links for successful hosting of events. Mostly head of any event is the respective Government. It will call the Event managers to develop their Ideas. Government will give the targets to event managers, and strain will be released accordingly. A event manager have to make sure the works are going thoroughly by his ad hominem rung or ant temporary outsourcing staff. Governing body will have principal(p renominal) Executive officer, Chief Security officer, Chief Competitions officer, Chief Marketing officer, Chief Commercial officer, Chief Communications officer, Chief operations officer, Chief Transport and Logistics officer, Chief IT officer, Chief Financial officers.Let us consider a particular field like Chief Transport and Logistics officer. Officer is the head of this section. He is responsible of all transportation of raw materials and he is concerned out making transportation arrangements for visitors and for players etc. He have to contact different countries representatives to arrange the accommodation, food, security and etc for the players and officials of that nation. First event manager have to have to take the count of the people coming from individualist nations. He have to take the preferences of the type accommodation and the food they needed and the places they want to visit and etc. By taking consideration of al the preferences event manager have to arrange th e accommodation and he have to engage the vehicles for them, he have to arrange the a well skilled person who know a out the local environment. Event manager have to arrange the security for the visitors and make sure in that respect are no negative issues. Event manager have to make the arrangement for the food they needed and book the places where the players and officials want to visit.Chief Financial officer have to release the fund required. Officer has to analyze the requirements needed. He have to collect the needs required to each and every individual field. Officer has to arrange the requirements needed.Chief IT officer have to take guardianship of the website design and have to prepare an interface to communicate with in the staff and for queries from visitors. He is responsible for maintaining the electronic media. He have to take care of publicity of an event through websites, social networking sites and etc. He have to create an LAN(Local Area Network ) and have to es tablish the connection between the computers which are used for event purpose. He have to take care of security of the data such that unauthorized persons should not access. Separate substance abuser name and Password should be give to each and every staff working for the event and data access control should e provided based on the designation of an employee.Therefore each and every individual division works on their respective targets assigned by the Government for success of the event.Phase 3 RealizeManufacture, make, build, procure, produce, sell and deliverThe main objective of organizing event is all about generating receipts. In Events industry is not lots related to Realize Phase. This phase is all about the physical out put of the event. In this phase we can see the results of the efforts kept in planning stage. Lets discuss about the results of the event. Starting from the first day we had the high-flown 3 hrs opening ceremony. It included medley of calypso, mento, regg ae, ska, soca, dancehall, and other musical genres. The three-hour performances at Trelawney Stadium in Jamaica had included stilt walkers, the different dance sequences, a mass choir and fire crackers show. Most important aspect of opening ceremony was Fire cracker show. That was very colorful and it gave a greater entertainment and joy for the people. It gave a warm welcome to the spectators. following comes about the tournament, here we can see a wide range of out comes of the planning. We can see the luxurious accommodation for the players and the officials of the different countries. We can see the new built roads, buildings, stadiums, hotels and lots more. We can see a new environment which is new to most of them. This all credit goes to government and the innovative event managers. We can see people enjoying while matches, and visitors and different places. We can see the media coverage about the event, we can see every media channel talking about the event.This phase is not related to change the product. We can experience revenue in events by selling Tickets, Media rights, Generating sponsorships from the corporate companies those who wants to use event as a place to publicize their products and accessories can sold which have events logo on it. Money can be generated by selling general products which are used at the time of match. Revenue from Tusk shop like T-shirt sale, selling refreshments, selling tickets and etc.Improved media advertising offers can generate more revenue from media channels. We should give rights to scarcely one media channel to telecast the matches. This idea will generate more revenue because of single channel in a country. Offers on the ticket will increase the profits than individual. We can also plan a travel package which includes the match tickets, lodging and slightly of the tourist spots. Internal and external advertisement will also generate money and we can use online booking system where we can focal point on t he sale of the tickets.In events industry we can not expect any Test. This industry is all about the real time out put. It is all about implement the plan which would help for the success of the event. All we can do is, to organize the event as perfect as possible. We can take feed back from the visitors which would help to improve for succeeding(prenominal) events.Phase 4 ServiceUse, operate, maintain, support, sustain, phase-out, retire, recycle and disposalServices in Events management includes operate, maintain, support, and recycle. It is very important to operate an event with the help of government, event managers and working staff. Event mangers responsibility is to balance the relations. Co-ordination between government, event mangers and working staff is important. In case of any miss understanding will leads to incardination. Maintaining of coordination leads to success of event.Maintaining the quality of the event is also very important. It is the responsibility of the event managers to control the supply of the requirements and he should have entire details of the event. Event manager should be super active at the venue and he should keep much more efforts than ever to maintain the quality of the event. Event manager should take care that non of his staff members should not be put off by any issues at the time of event. Maintaining of security is also very important.Recycling the garbage is very important. We can encourage this recycling by providing a plastic cover in which every one have to carry their own paper waste, this will help to reduce the efforts of the trade union movement and it would become an encouragement program to bring awareness to recycle the wasteCONCLUSSION.Product life cycle is also very important to any event. In events management steps involved to relate product life cycle concepts are planning an event, raising the funds, advertising, implementation, maintaining, and withdrawing. To my knowledge, every step of product life cycle concepts may not applicable to events but more or less concepts of product life cycle are base to organize any event. A successful event can be organized only when we come across some stages of product life cycle concept.