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  • Essay / Understanding Technology and Product Life Cycle Models

    At this stage, there are rules regarding how long the product can be marketed as new. After the initial introductory period, the marketing strategy can and should change so that the product is seen by as many potential customers as possible. Once an article is accepted, word-of-mouth advertising can be just as useful as the ongoing mass media marketing strategies already in use. A number of products were introduced into the market and immediately began to gain acceptance. A few simple toys such as Furbies and Tickle-me-Elmo had their heyday when they were introduced before Christmas and, for some reason, flew off the shelves faster than retailers could get them. This type of market acceptance would be great for any product as long as demand was consistent. Like toys, many of today's tech gadgets are sought after and the mention of a new and improved version of the phone, tablet, laptop or other electronic toy entices people to pre-order and make queue for the release date of the articles. walk. This is the acceptance that every growing business would like to have. With acceptance of their product, they will be able to quickly recoup the money spent on research and development and product validation. Although it's the next last