Introduction
Any product or service has a life cycle, and its duration depends on many factors. The product category, terms of use, competitor activity, fashion, technological discoveries, and changing needs influence the transition to the next stage of the life cycle. This paper presents two products – slimming teas and adaptogens – at different stages of the product lifecycle, resulting from complex combinations of socio-economic processes.
Slimming Tea
Description
Tea for weight loss is an herbal raw material, the herbs in which are selected to block the feeling of hunger, calm nerves, and accelerate metabolic processes. During a diet, dietary restrictions can leave the body lacking nutrients, leading to constant hunger and discomfort. Slimming tea is designed to eliminate these symptoms and help a person achieve weight loss results. Such teas are often made from a mixture of herbs – mint and cassia, and have a pleasant taste. They quickly relax the intestines and free the body from waste products of metabolism.
Stage
Slimming teas are at the last stage of the product life cycle – sales decline. The audience no longer needs the product, and its manufacture is being discontinued (Cannon 212). The prevailing trend towards health, rather than slimness, has reduced the popularity of teas for weight loss. With the introduction of the concept that a beautiful body is a healthy body, the target audience stopped consuming the product. Manufacturers do not experiment with new flavors or formulations, suggesting the product is not in demand. Customers may still use the product, but it is most often a sale of old lots.
Adaptogens
Description
The second product, adaptogens, are non–toxic plants that have a tonic effect on the human body. They reduce the effects of stress on the physical and mental state. Adaptogens regulate the body’s functions, restoring its normal, physiological mechanisms and increasing its natural resistance to fatigue, depressive disorders, and organic diseases. The widespread commercial use of adaptogens is often aimed at gradual weight loss without side effects or discomfort.
Stage
Adaptogens are at the market introduction stage. Companies bring it to the market as a new product and get the first sales. Adaptogens are at the implementation stage because they are little known to the audience and are produced in small batches. The manufacturer’s main task in the current period is to inform the target audience about the product through comprehensive advertising campaigns (Cannon 218).
To get acquainted with the product, manufacturers of adaptogens use tryvertising — free testing of the product in real conditions (Cannon 226). During the launch of a product, popular strategies are often used: the product is introduced at a low price so the public can try it and get used to it (Cannon 209). Adaptogens are currently offered as an alternative to teas for weight loss.
Conclusion
Thus, the status of goods on the market changes regularly. New trends in health and fashion, for example, can lead to the obsolescence of one product, its sales decline, and the emergence of another that meets new customer needs. To keep the product on the market longer, it is necessary to stimulate sales and sustain audience interest for as long as possible. The market remains flexible to customer requests, so the product lifecycle is a continuous process that allows the economy to adapt.
Work Cited
Cannon, Joseph. Essentials of Marketing. McGraw-Hill, 2018.