Vaseline Product Life Cycle Analysis
The stages of product lifecycle are; introduction, growth stage, maturity stage and finally the decline stage ("Product Life Cycle Stages", 2018). Considering the number of years that Vaseline has been on the market and its dominance, it is easy to deduce that it is in the maturity stage. The brand was introduced eons ago and has grown greatly over so many years. At the moment, Vaseline is largely interested in maintaining a significant share of the market since market saturation has already been achieved. Vaseline makes very many sales and there is not much growth that is being seen. During those stages, the company may not have been confident enough to risk venturing the tricky markets. However, now that the product is already established and a leading brand, it is time for Vaseline to explore those markets that were left unfinished.
Product Adjustment This strategy is used by a company to make modifications to a product that has been existing in the market for too long and reintroduce it as a new product. The modification of a product can be done in two ways. The first is flanking. The first one is the emergence of a new product. In any business setting, the emergence of something new always causes panic to the existing product. Even if the new products may not be as good as Vaseline, their introduction causes a destabilization of the market for a certain period of time and Vaseline has to contend with the turbulences that come with that. The second challenge is competition from other products that are trying to break into the maturity stage.
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