Coca Cola Product Life Cycle Analysis

Coca Cola – PLC

The product life cycle was introduced in the 1950’s. It was used to explain the typical life cycle of a product from the time of its inception to its demise. The product life cycle is divided into four phases; these are product introduction, growth, maturity and decline. The goal of managers is to maximize the life cycle of the product and its value and profitability at each stage.
PRODUCT INTRODUCTION
This is the stage when the product is developed and introduced into the market. The goal of any company which introduces a new product is to meet customers’ needs with a quality product at the least possible cost in order to deliver the highest level of profit.
The product goes through various stages before it is introduced

The maturity stage is also the longest of the four stages seeing as how Coca Cola has been at this stage for decades.
DECLINE
The final stage of the product life cycle is the decline phase. Products arrive at this stage when they reach a peak at the maturity phase and then begin a downward spiral to the bottom. Their sales and revenues start declining and eventually the product reaches a stage where it is no longer economically feasible for the company to make that product. Thus, the company either slowly kills the product or it may be revived again if the company feels that the product has good potential and had reached the decline stage because of a mistake in the marketing program.
Coca Cola is in the Maturity Phase in most countries. The areas where Coke is a strong player and a dominant contender are US, Europe, Asia and Africa. However there are certain differences with regards to the geographical areas. In US and Europe, Coke has reached maturity, whereas, in Asia and Africa there is still potential for the product and is still in the growth

The early majority adopt new ideas just before the other average members in a system. The early majority interact frequently with their peers, but seldom hold positions of opinion leadership in a system. The early majority 's unique position between the very early and the relatively late to adopt makes them an important link in the diffusion process. They provide interconnectedness in the system 's interpersonal networks. The early majority are one of the two most numerous adopter categories, making up one third of the members of a system. The early majority may deliberate for some time before completely adopting a new