Adidas Product Life Cycle
|✅ Paper Type: Free Essay||✅ Subject: Marketing|
|✅ Wordcount: 1040 words||✅ Published: 21st Jul 2017|
The product life cycle concept may apply to our product, Adidas Deep Energy Deodorant. The product life cycle concept helps our marketing managers to plan marketing strategies to address the challenges that our products are likely to face. Product’s life cycle can be divided into several stages which include introduction stage, growth stage, maturity stage and decline stage.
Introduction stage shows small or even no sales and the company make no profit. When the Adidas men deep energy deodorant is introduced, sales will be low until customers become aware of the product and its benefits. This stage involves lots of research, expenditure and planning are required. Advertising costs of our deodorants product are high during this stage in order to quickly increase customer awareness of the product and to target the early adopters. During the introduction stage, we are expecting to incur additional costs related with the initial distribution of the product. These higher costs fixed with a low sales normally make the introduction stage a period of negative profits.
- Growth stage
During growth stage, the sales increase due to attracting more competition into the market. Similar products starts come up and we have to focus on competitive advantages which can be price reduction, value added features or some other innovations. Profits rise due to an increase in output and perhaps better prices. At this stage, it is cheaper for Adidas to invest in enhance their market share as well as enjoying the overall growth of the market.
- Maturity stage
In the maturity stage, sales of our product growth slow and generic competition appear. We may enhance our deodorant product features to differentiate the product. The selling price may start to erode under competitive price. In this stage, competition is strong as companies contest to maintain their market share. The Maturity Stage is the time when most profit is earned by the market as a whole. Some expenditure on research and development is likely to be controlled to our deodorant product modification and improvement and to improve production efficiency and quality.
- Decline stage
In the Decline Stage, the market is reducing, decreasing the overall total of profit that can be shared with other competitors. Decline stage appear for some reasons the sales of our deodorant product start decreasing, the reasons can be some new and better choices or diminishing demand. At this stage, we have to manage our product carefully. It may be likely to cut out some production cost, to transfer production to a cheaper facility, sell the product into other cheaper markets.
- Core Product
Adidas Deep Energy deodorants for Men provide the consumers the fresh, woody fragrance. This deep energy deodorant for men is alcohol-based, and provides excellent anti-bacterial formulation to consumers. It helps in keeping the under-arms fresh all day long, and also facilitate in reducing perspiration levels. In addition, it helps in deactivate the bacteria, and in turn ensuring zero body odors. This deodorant provides great protection against sweat and odor. This range has been developed with athletes in mind to give the best possible protection against sweat and odor. It also reducing ability of bacteria to breed thus gets rid of a sweat smell.
- Actual product
The brand name of our product is Adidas Men Deodorant Clear Stick, Deep Energy. The selling price of it is RM8.90.
Packaging design plays a crucial role in helping to communicate the image of the product. Black is a color choice for the packaging. They also used a hard container to emphasize the sport spirit in the product. 3 oz and 85g of a bottle with a slanted black plastic flip-top lid design to the top of it. It is developed for athletes, unique energizing fragrance, and 24 hours fresh power remain.
The advertisement for the Adidas deodorant features the three guys playing basketball under the shining hot sun. Mysteriously their faces are not shown, nor the colors that they wear and remain secret. There is just the image of them playing basketball. With the presence of the fading orange background, it seems as if these guys have been playing all day. The color design of the advertisement is very dull. In the middle through the advertisement, on the right hand side, there is a picture of the Adidas deep energy deodorants that the buyer can choose from.
- Augmented product
Things considered part of the augmented product include guarantee, warranty, customer service, accessibility as well as complementary product.
Guarantee offers an assurance of the product will perform up to expectations and if not the company marketing the product will support the customer’s decision to replace, repaired or return for a refund.
Warranty provides customers the protection that often extends past the guarantee period to cover repair or replacement of our deodorants product.
Customer Service consists of extra services that support the needs of customers including offering training and help using telephone or online. Thus, customers of our product can solve their problem by using these.
Complementary Products is the value of some product purchases can be enhanced with add-on products, such as things that make the main product easier to use. For instance, small little cover bag gift with the deodorant which consumers can carry easily. Improves styling or offers functionality which will attract more customers to buy our deodorants product.
Accessibility is how customers obtain the product can affect its perceived value depending on how easy it is to obtain, the speed at which it can be obtained, and the possibility its available when needed. We can supply our deodorant products to those convenience stores such as Guardian, Watson, 7-eleven, and supermarkets and so on. So that customers could obtain our deodorants product as easy and available when needed.
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