Situational Analysis: Product Life Cycle Of Microsoft Office
EXECUTIVE SUMMARY
M. PROCESS --> situational analysis - product life cycle
Product life cycle involves four main stages which a product has to pass through such an introduction, growth maturity and decline. Numerous business innovate or invent inspired by someone’s great idea to produce a product which would be fresh in market, different compared to others and which also is innovative and perhaps superior to the one which available. Similarly with the most successful company Microsoft corporation’s product Microsoft office which as already touched to maturity stage according to its features:
• Product features and packaging try to differentiate the product from those of competitors: Microsoft office is a brand that has extensively diversified
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• Price may need to be adjusted downwards to hold off competitors and maintain market share. :
The major pricing decision is whether to set a price above, below or about even with the competitors’ price. This influences Microsoft office to list their product in premium priced list, however, all the other products, which have alternatives in the market, are priced competitively.
• Promotion continues to suggest the product is tried and true: Microsoft has a certain amount of promotion, which is mainly used for its premium products which have a large share of the market. Or the promotions are used for products which are in high competition segments like phones with collaboration in other companies. For products like MS office, Microsoft vastly uses digital marketing and advertising. Overall, the promotions of Microsoft have always pushed for reliability and usability of the Microsoft
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So Microsoft started to use product bundling, offering customer the opportunity to buy a complete range of products they need at a single and combined price. This increases the value that customer see in a company’s product line evacuees it they obtain a price discount by purchasing product as a set and they get used to dealing with just that one company. Also MS office has provided Microsoft hardware such as mouse, keyboard, mobile headset, cooling pad for laptop etc. In order to compete with the biggest competitors Apple, Microsoft is also provided software for Mac such as Microsoft office
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