Product Stages
Introduction Stage
Product: Apple iWatch
The apple watch is in the introduction stage because it is brand new, soon to be released in the market in early 2015. Currently there are no sales revenue’s as it’s not released but Apple is already pumping big bucks into advertising, including commercials, web design on its website, print ads, collaborative marketing and more. The technology is completely new and therefore at its highest cost in terms of its build, testing, manufacturing, and educating buyers on why the product is different and how it benefits them. The high price point (around $349 and up) is indicative of a product in the Introduction Stage. Currently there are few competitors and Apple claims to have much more to offer in their watch.
I believe this product will evolve into the next stage mostly because of the brand name behind it. People trust Apple to be innovative and to have products that work well and integrate seamlessly with their other Apple devices. The brand and money behind the product is exactly what a product that is so new and different needs to get people to give it a try.
Growth Stage
Product: Electronic Cigarettes
Electronic cigarettes were 1st created in the 1960’s and really started gaining momentum in the late 2000’s. The product is widely recognized at this point and many ‘vape’ shops have popped up selling the electronic cigarettes as well as supplies. The products are now easily accessible both on and off line and prices remain stable. Regulations, laws, and taxes are struggling to keep up. As the product does not give off smoke, they do not fall under the current smoking regulations and are currently not taxed the way regular cigarettes are. Companies are coming out with their own policies treating E-Cigarettes and regular cigarettes the same. With so many flavors and having such an affordable alternative to regular cigarettes, many are switching or using e-cigs to supplement their tobacco habits. There is little data as to
Product: Apple iWatch
The apple watch is in the introduction stage because it is brand new, soon to be released in the market in early 2015. Currently there are no sales revenue’s as it’s not released but Apple is already pumping big bucks into advertising, including commercials, web design on its website, print ads, collaborative marketing and more. The technology is completely new and therefore at its highest cost in terms of its build, testing, manufacturing, and educating buyers on why the product is different and how it benefits them. The high price point (around $349 and up) is indicative of a product in the Introduction Stage. Currently there are few competitors and Apple claims to have much more to offer in their watch.
I believe this product will evolve into the next stage mostly because of the brand name behind it. People trust Apple to be innovative and to have products that work well and integrate seamlessly with their other Apple devices. The brand and money behind the product is exactly what a product that is so new and different needs to get people to give it a try.
Growth Stage
Product: Electronic Cigarettes
Electronic cigarettes were 1st created in the 1960’s and really started gaining momentum in the late 2000’s. The product is widely recognized at this point and many ‘vape’ shops have popped up selling the electronic cigarettes as well as supplies. The products are now easily accessible both on and off line and prices remain stable. Regulations, laws, and taxes are struggling to keep up. As the product does not give off smoke, they do not fall under the current smoking regulations and are currently not taxed the way regular cigarettes are. Companies are coming out with their own policies treating E-Cigarettes and regular cigarettes the same. With so many flavors and having such an affordable alternative to regular cigarettes, many are switching or using e-cigs to supplement their tobacco habits. There is little data as to