Product Life Cycle

Product Life Cycle is the stages through which a product or its various categories bypass. Like human life product also has a life which pass through the same stage to which human pass i.e. Introduction, Growth, Maturity and Decline. Product life cycle helps the company to identify where its product stands, if the product is in growth stage then company use various tactics to get the product into maturity stage. So that they can enjoy higher revenues, but at the same time company has to keep a check that product should not enter its decline stage. Otherwise product will get extinct from the market, to prevent the product from entering into decline stage company make innovation in the product or get new variants so that to keep the product in maturity phase only.


Introduction:

The first stage of a product life cycle is the introduction or pioneering stage. During this stage competition is not much, prices are relatively high and markets are limited and the product innovation is not much. For its Real brand, dabur focused on increasing the consumption by targeting mothers and children. It led to the inception of the real fruit juice in 2004. At the same time the company wanted to position the Real fruit Juice as its premium brand and hence there was a premium pricing since its inception and in more ways than one it has worked in the favor of the brand. During these times their main target was the children and to appeal to them, the mothers were targeted.


Growth Phase:

It was in the year 2008 - 2009 that the company entered into its growth phase. The entry into this phase was quite early and the growth of the market share of the real fruit juice was arguably, incredible. Dabur launched a 360 degree market campaign to reinforce its real fruit juice image. It was also launched many new flavors in which it was readily available in the market so as to cater to a whole new set of customers. The drink which was previously available in two flavors was now available in four new flavors which took its range to six. There was no other fruit juice which was available in so many variants in the Indian market at that time. The Juice was better concentrated and better packed so as to not be tampered with and it had an aura of freshness in it. The idea behind this was as much as to make it an experience to have Real Fruit Juice as to satisfy the nutritional needs of the masses.


Maturity Phase:

It can well be said that Real Fruit Juice is in its early maturity phase or in its late growth phase. It has a whole new range of mix and taking its toll of available variants to 14 viz. grapes, plum , litchi, pomegranate, mango, tomato, cranberry, orange, guava, peach, mixed fruits, apple, apricot , pineapple. Frankly it has very other desired fruit juice available as a variant. It has a very steady rise in its market share. From About 33% in 2009 to more than 55% in 2013, certainly shows tremendous market presence. It is available at most stores and the company’s great distribution channel only adds further to its increasing market share. The revenue share shows that Real Fruit Juice is really doing great in the fruit juice sector in India and it has huge scope for expansion considering its brand and distribution channel


Decline Phase:





Real Fruit Juice till has not entered this stage and it's highly unlikely that it happens in the near future.