The product life cycle refers to the stages a product goes through from its development and introduction to the market, to its growth, maturity, and eventual decline and removal from the market. Understanding the product life cycle can help a company like Cadbury make informed decisions about how to best market and manage its products.
The first stage of the product life cycle is the development and introduction stage. During this stage, Cadbury would be working on creating and testing new products to bring to market. This stage is often accompanied by high research and development costs as the company works to bring the product to market.
The second stage is the growth stage. During this stage, the product starts to gain traction and sales begin to increase. Cadbury would be focusing on marketing the product and expanding distribution to reach a wider audience. The company may also invest in production to meet increasing demand.
The third stage is the maturity stage. During this stage, the product has reached its peak in terms of sales and market share. Cadbury may still be marketing the product, but the focus may shift to maintaining market share rather than trying to increase it. The company may also start to look for ways to cost-effectively extend the product's life cycle, such as by introducing new flavors or packaging.
The fourth and final stage is the decline stage. During this stage, the product begins to lose market share as it becomes less popular or is replaced by newer, more innovative products. Cadbury may decide to phase out the product or continue to sell it at a lower volume.
In summary, the product life cycle consists of four stages: development and introduction, growth, maturity, and decline. Understanding where a product is in its life cycle can help a company like Cadbury make informed decisions about how to best market and manage the product.
Product Life Cycle CADBURYHISTORY Cadbury Chocolates was started
Competition remains low because it comes from solely those different substitute brands that area unit already existed within the market giving healthy snacks. Download file to see next pages Read More Cadbury - Product Life Cycle, New Market Entry, Strategic Marketing Pr Case Study, n. When I was a sophomore, back in 2018, I decided to put what I've learned into practice, so I got my first job in digital marketing. . Project prizefighter, like all Nestlé comes, followed Nestlé's internal advertising code of conduct, that reflects the trade position on advertising to youngsters. The strategy paid off: Brand Cadbury grew by over 50% in sales volumes.
Cadbury: Marketing Strategies Case Study Example
The chocolate market in India was witnessing a change in consumption patterns due to the growing middle class, their increased affordability and availability of a broader range of brands Exhibit I. With the campaign 'Khaanein waallon ko khaanein ka bahana chahiye' featuring Cyrus Broacha, Cadbury Dairy Milk aimed to substantially increase penetration levels. The product promotions slow down and eventually, the product dies off. KitKat Oat Bar is 1st introduced to the market, loads of promotion efforts area unit necessary to make sure the merchandise penetrate into the market in no time. While it was only served in Hong Kong McDonald's, it became one of the most sought-after menu items. The consumer base is already aware of the product. .
Product Life Cycle
Keep reading below to learn more about McDonald's marketing strategy, as well. In the chocolate confectionery business, the company has maintained their undisputed leadership over the years, through some of its key brands, namely Cadbury Dairy Milk, 5 Star, Perk, Gems, Eclairs and Celebrations. As an American, when you think of fried chicken, spaghetti, and coca-cola put together, you may see them as similar products to KFC's. As far as Cadbury Chocolates now under Mondelez India Foods Private Limited are concerned, let us have a look at how the company has strategized its market presence and growth, from the angle of product life cycle. Chocolates are now trying to break into that league and hence faces stiff competition more from this product category than its immediate competitors.
