4.The product life cycle is a familiar one in marketing. A product is a familiar one in marketing A product is
Launched, developed goes through a period of growth, enters maturity,
declines, and eventually dies. A top brand should go on if it is
well managed. A brand manager is like a doctor or plastic surgeon who
can keep the brand healthy and looking fresh down the years. Brand
managers must be able to identify new segments of the marker
particularly when products have become mature. Coca C ^ a
introduced a large number of variants to appeal to different consumers.
So knowing what stage your branded product is at in this cycle may help
you decide when to launch a line extension or go for a relaunch with
improvements and 'added-value' features. Newer versions of cars, for
instance, will come with air-conditioning as a standard feature, or they
will have a facelift to modernize the look even though what's under
the bonnet may stay the same.