Monday, April 16, 2012

The Product Life Cycle

1. A fad- pet rocks- I believe that this product did not last very long because it is not a very good  idea.  I have a hard time trying to figure out how it became popular to begin with.  I see no attraction in having a pet rock and do not understand why people did.  The founder was able to sell over 1.5 million pet rocks.








2. Long Lasting product- Ketchup-  I believe Ketchup has lasted as long at it has because it has a solid company producing it.  Heinz is very popular when it comes to food.  I also think that Ketchup has lasted so long because it is an ingredient that goes on everything.  With the increase in popularity for fast food products such as hot dogs and hamburgers, there is an increase in Ketchup sales too. 





 3. Tech Product- Ipod Nano- This product is made by Apple.  I believe that this product lasted a fairly long time because when it was released, it was the newest and most innovative piece of technology on the market.  The popularity of this product eventually went down because of the introduction of the Ipod touch.  Apple basically had the best product out there and then made it bigger and better.

Wednesday, April 11, 2012

Luxury Brands

Ferrari is a luxury car dealership that has been producing sports cars for many years.  Most of their vehicles are built in Italy.
Price range: $190,000-over $500,000
They sell their cars and accessories online and in dealerships.  The accessories that they sell start at $5 and goes up.  They sell watches, jackets, t-shirts, shoes and many more memorabilia.  Since the target market is so small, it is hard to open a lot of dealerships, and since their products are so expensive and desired, people are willing to travel to the big cities to pick out their dream car.
Their target market would be older, wealthy males and females, and young wealthy males and females

  These products appeal to me because they are luxurious and stylish.
People would be willing to spend ridiculous amounts of money for theses products because they are stylish, luxurious, and a lot of people dream about driving one.  It's all about the dream.  People grow up wanting to own a fancy sports car. 

This is a picture of basketabll star LeBron James standing beside his Ferrari.







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