Mkt 230 Life Cycle Management Analysis

Life Cycle Management Analysis Trang Fay Axia College of University of Phoenix Any product in the marketplace has a life cycle. It means a product will go through four stages introduction, growth, maturity, and decline. To maximize the profit of product, the marketers need to understand how a product changes over its lifetime so they can suggest the right marketing strategies to accomplish the goal. IPod is a product of Apple. It is considered a revolution of the digital audio player. Today, it has sold over 220,000,000 units all over the world. Making it the best selling digital audio player in history. Is this number going to continue to climb up or will it decline soon Lets take a closer look to find out the life cycle of iPod. First, we need to know what kind of product iPod is, whether it is an individual product or a product line. Therefore, the marketers can suggest the right marketing strategies for each stage of the life cycle of product. IPod is a product line. The Apple expanded the product by stretching the iPod product in two ways. There are four models which are the Tough, Classic, Nano, and Schuffle. Each one