There are four main stages involved in the product life cycle and they are introduction stage, growth, maturity and decline. In the introduction stage, the company focuses mainly on advertising and promotion of the new product to its consumers. Once consumers accept the product, there will product growth since it will be sought after by many consumers. It is, however, important to note that the response from consumers depends on the quality of the product, packaging, and pricing. The sales of the product are at a steady level. The third phase is the maturity stage where the product sales are its best. This is followed by the decline stage where the sales decline and the company is either required to withdraw the product from the market for rebranding or rebrand the product while it’s still in the market.
The same case will apply to the Electric-Cigarettes although there will be a few changes. The rapid growth of the information and communication technologies (ICT) sectors of many nations has changed the way companies conduct business. Most of them have adapted to E-commerce. In the introduction stage of the electric-cigarettes, the company will work on the following key areas, online branding of the products, pricing, creation of online distribution channels and finally promotion strategies to be used by the company. One channel that the company will capitalize on is the use of social websites like tweeter and facebook to reach a wider audience. Another thing that will be taken into consideration is how the company will deliver the consignment to its clients and way of payment.
At the growth stage, the company will mainly concentrate on the promotion aspect to ensure that most people are made aware of the electric-cigarettes and this will ensure continued business. Another area that the company will focus on is opening more distribution channels because there will be an increase in the demand for the products. The same trend will be carried on to the maturity stage. The difference, however, is that at the maturity stage, the company does not struggle to market and distribute the products since the consumers are aware of its existence and know where to find it. The product may not experience the decline stage because it is a consumable product.
One factor that will help in the marketing of the product is the internet because it is easily accessible by many people around the world. This, however, has some limitations since in some areas most people are computer illiterate and have no access to the internet. The harmful effects of tobacco on the health of the smoker and the environment may make people have a negative perception towards the electric-cigarettes.