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Essay / Research Paper Abstract
By understanding product life cycles any business will be better placed to plan and develop their product and/or service to fit in with the wider market. This 6 page paper looks at the development of the fax machine and considers this in line with the product life cycle looking at the different stages and consider where the product currently is as well as the changes seen in each stage. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEfaxplcy.rtf
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Unformatted sample text from the term paper:
stand alone form. The development of the fax machine has seen many influenced, but like any other product, it has followed a clear and defined life cycle pattern and we
may argue today that it is in either the maturity stage or has just started to enter the declining stage. The way in which the fashions and sales of
products, or services, sell is always cyclic, starting low with the introduction increasing to a peak and then dropping off again. This is known as the product life cycle. The
length of a lifecycle will depend on the product, for example film merchandising may have a lifecycle as short as ninety days, whereas the motor vehicle has a life cycle
that is more than a hundred years old and still going strong (Chi and Lui, 2001). e may argue that although it
may not appear to be the fax machine has had a long lifecycle. By examining this life cycle we can trace the development and determine where in this lifecycle the
fax machine currently resides. The life cycle of a product has five stages, development, market introduction, market growth, market maturity and market decline. The development stage is the time
when it is being developed and not available to be purchased. At this stages costs are not balanced by any revenue. It is at this stage that there is the
greatest amount of flexibility. It is also at this stage that there is investment with no reality of return (Perrault and McCarthy, 1997).
We can argue that this was a very long stage for the fax machine as it was first conceived in 1843, 7 years after the development of the telegraph.
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