The Product Life Cycle of BMW Brands Essay Example | Topics and Well Written Essays - 750 words

The Product Life Cycle of BMW Brands - Essay Example In this case, new features that would characterize the development of existing products would be introduced in between the stages that would keep on revitalizing the product. As explained in detail below, this strategy is highly recommended as it has a lot of benefits and advantages over other competitors. models over time such that the whole model range is not changed but only changing another model range. Basically, it strives to keep its products in the introduction and growth stages by introducing new models in each of its product lines as well as continually improving its existing products. This strategy is advantageous in that the organization is able to realize its profits every time as a business would be growing every time by way of introducing a range of other models. It can be noted that the product lifecycle shown of other automobile manufactures contrasts drastically with that of BMW. These manufacturers would introduce a model then leave it unchanged over a long period of time until the sales begin to show a decline after reaching the maturity stage which is the peak occasion of sales of a product it can reach before they begin to decline. The product life cycles of other manufactures differ from BMW in that there are mainly characterized by four stages which are introduction, growth, maturity and decline. Indeed, BMW’s product lifecycle is constantly growing by virtue of introducing new models in its product lines. However, the main similarity between these product life cycles is that both of them have a similar introduction and growth stages. The introductory phases are concerned with brand establishment with the main aim of encouraging the use of the product by emphasizing its unique attributes. Both stages show an upward trend in sales of their products. Basically, a marketing strategy is defined as the means by which marketing objectives will be achieved. It encompasses the instruments used in marketing which involve planning, organizing, leading and controlling. The most important part of the marketing strategy is the implementation part. Â