Contents

• A Review of the Literature
• Research Aims/Questions
• Research Methodology
• References

Description

The essay begins with a review on literature which explains the basic framework for product life cycle. The product life cycle has been explained keeping in mind “think products” and customer involvement at various stages. The framework of product life cycle has been used to analyze the impact on marketing of products, specifically think products in the maturity stage. The aim here is to understand customer involvement and its relation to consideration set size. With the advancement in technology and change in fashion, the customer requirement for products change and they start looking for modifications in the product. The product life cycle presents the path starting from an introduction of a product to its final discontinuation. The four stages of the product life cycle explain the functioning of the product in the market.
The main focus of the paper is on impact of maturity stage in reference to think products. The research highlights on the fact that why it is that consumers with high involvement have a high set of consideration in case of think products which is not there in its initial stages. The research is focused around this question which links set of consideration to different type of products. The second part of the review highlights on the impact of PLC on think products which indicates alteration in marketing strategies and marketing mix to enhance productivity and profitability