Monday, February 28, 2011

product life cycle


1. Background

THE idea of the Product Life Cycle was first developed in 1965 by Theodore Levitt in an article entitled “Exploit the Product Life Cycle” published in the Harvard Business Review on 1 November 1965.

2. Benefit of the Product Life Cycle model

For a business, having a growing and sustainable revenue stream from product sales is important for the stability and success of its operations. The Product Life Cycle model can be used by consultants and managers to analyse the maturity stage of products and industries. Understanding which stage a product is in provides information about expected future sales growth, and the kinds of strategies that should be implemented.

3. Product Life Cycle model

product_life_cycle_2
The “Product Life Cycle” is the name given to the stages through which a product passes over time. The classic Product Life Cycle has four stages:
  1. Introduction,
  2. Growth,
  3. Maturity, and
  4. Decline.

3.1 Introduction

At the market introduction stage the size of the market, sales volumes and sales growth are small. A product will also normally be subject to little or no competition. The primary goal in the introduction stage is to establish a market and build consumer demand for the product.
There may be substantial costs incurred in getting a product to the market introduction stage. Substantial research and development costs may have been incurred, for example, thinking of the product idea, developing the technology, determining the product features and quality level, establishing sufficient manufacturing capacity, preparing the product branding, ensuring trade mark protection, etc. Marketing costs may be high in order to test the market, launch and promote the product, develop a market for the product, and set up distribution channels.
The market introduction stage is likely to be a period of low or negative profits. As such, it is important that products are carefully monitored to ensure that sales volumes start to grow. If a product fails to become profitable it may need to be abandoned.
Some of the considerations in the introduction stage include:
  • Product development: research and development of the basic technology and product concept, determining the product features and quality level.
  • Pricing: should penetration pricing or a skimming price strategy be used? A skimming price strategy might be appropriate where there are very few competitors.
  • Distribution: distribution might be quite selective until consumer acceptance of the product can be achieved.
  • Promotion: marketing efforts are aimed at early adopters, and seek to build product awareness and to educate potential consumers about the product.

3.2 Growth

If the public gains awareness of a product and consumers come to understand the benefits of the product and accept it then a company can expect a period of rapid sales growth, enter the “Growth Stage”. In the Growth Stage, a company will try to build brand loyalty and increase market share.
Profits are driven by increased sales volume (due to growth in market share as well as an increase in the size of the overall market). Profits might also be driven by cost reductions gained from economies of scale, and perhaps more favourable market prices. Competition in the Growth Stage remains low, although new competitors are expected to enter the market. When competitors enter the market a company might be subject to price competition and increase its marketing expenditure.
Some of the considerations in the Growth Stage include:
  • Product improvement: product quality might be improved, additional features and support services added, and packaging updated.
  • Pricing: if consumer demand is high the price might be maintained at a high level.
  • Distribution: distribution channels might be added as consumer demand increases.
  • Promotion: promotion is aimed at a broader audience. A company might spend a lot of resources on promotion during the Growth Stage to build brand loyalty.

3.3 Maturity

When a product reaches maturity, sales growth slows and sales volume eventually peaks and stabilises. This is the stage during which the market as a whole makes the most profit. A company’s primary objective at this point is to defend market share while maximising profit.
In this stage, prices tend to drop due to increased competition. A company’s fixed costs are low because it is has well established production and distribution. Since brand awareness is strong, marketing expenditure might be reduced, although increased marketing expenditure might be needed to retain market share and fight increasing competition. Expenditure on research and development is likely to be restricted to product modification and improvement, and perhaps research into improved production efficiency and product quality.
Some considerations for the mature product market include:
  • Product differentiation: increased competition in the mature product market means that a company must find ways to differentiate its product from that of competitors. Strong branding is one way to do this.
  • Pricing: prices may be reduced because of increased competition. Firms in the market should be careful not to start a price war.
  • Distribution: distribution intensifies and incentives may be offered to encourage preference to be given over competing products.
  • Promotion: promotion will focus on emphasising product differences and creating/maintaining a strong brand.

3.4 Decline

A product enters into decline when sales and profits start to fall. The market for that product shrinks which reduces the amount of profit available to the firms in the industry. A decline might occur because the market has become saturated, the product has become obsolete, or customer tastes have changed.
A company might try to stimulate growth by changing their pricing strategy, but ultimately the product will have to be re-designed, or replaced. High-cost and low market share firms will be forced to exit the industry.
As sales decline, a company has three strategy options:
  • Hold: maintain production and add new features and find new uses for the product. Reduce the cost of manufacturing (e.g. move manufacturing to a low cost jurisdiction). Consider whether there are new markets in which the product might be sold.
  • Harvest: continue to offer the product, reduce marketing expenditure, and sell possibly to a loyal niche segment of the market.
  • Divest: Discontinue production, and liquidate the remaining inventory or sell the product to another firm.
Some considerations for a declining market include:
  • Product consolidation: the number of products may be reduced, and surviving products rejuvenated.
  • Price: prices may be lowered to liquidate inventory, or maintained for continued products.
  • Distribution: distribution becomes more selective. Channels that are no longer profitable are phased out.
  • Promotion: Expenditure on promotion is reduced for products subject to the Harvest and Divest strategies.

4. Criticisms

The Product Life Cycle is useful for monitoring sales results over time and comparing them to products with a similar life cycle. However, the Product Life Cycle model is by no means a perfect tool. Products often do not follow a defined life cycle, not all products go through each stage, and it is not always easy to tell which stage a product is in at any one time. Consequently, the life cycle concept is not well-suited for the forecasting of product sales.
The length of each stage will vary depending on the product and the marketing strategies employed. A Product Life Cycle may be as short as a few months for a fad or as long as a century or more for a product like petrol cars. In many markets the product life cycle is longer than the planning cycle of the organisations involved. Major products often hold their position for several decades or more, indeed, Coca-Cola was introduced in 1886 and is still the leading brand of cola.
The Product Life Cycle is only one of many considerations that a company must bear in mind. The product life cycle of many modern products is shrinking, while the operating life for many of these products is lengthening. For example, the operating life of durable goods like household appliances has increased substantially. As a result, a company that produces these products must take their market life and service life into account when planning.
Some critics have argued that the Product Life Cycle may become self-fulfilling. For example, if sales peak and then decline a manager may conclude that a product is on the decline and cut back on marketing, thus precipitating a further decline.

Difference Between CMOS and BIOS | Difference Between | CMOS vs BIOS

Difference Between CMOS and BIOS | Difference Between | CMOS vs BIOS

Difference Between TCP and IP | Difference Between | TCP vs IP

Difference Between TCP and IP | Difference Between | TCP vs IP

Transmission Control Protocol (also known as TCP) is a core protocol of the Internet Protocol Suite. It operates at a higher level than its compatriot, Internet Protocol (also known as IP). The two main concerns of TCP are the two end systems – a web browser and a web server, for example. TCP provides the delivery of a stream of bytes from a program from one computer to another computer. TCP is also in charge of controlling size, flow control, the rate of data exchange, and network traffic congestion.
IP is a protocol used for data communication across a packet switched internetwork (that is, an internetwork in which all transmitted data is grouped together). As with TCP, it also uses the Internet Protocol Suite. It is the primary protocol in the Internet Layer of the Internet Protocol Suite. Its main task is to deliver distinguished protocol datagrams (also known as packets) from the source host to the destination host based only their addresses. As such, IP defines addressing methods and structures for the encapsulation of the packets.

TCP provides communication services at an intermediate level between an application program and the IP. What this means is that when an application program wants to send a large piece of data across the internet using the IP, instead of breaking the data into sizes that will fit the IP and using a series of requests from the IP, the software is capable of issuing a single request to TCP, and let this protocol handle the details of the IP transfer. TCP detects problems that arise in the IP, requests retransmission of the packets that were lost, rearranges the order of the packets (so that they are put back into their proper order), and helps to minimize network congestion (in order to reduce the occurrence of other problems down the line). Once all this has been done and the proper copy of the data has been compiled, the packet is passed along to the application program.
IP encapsulation means that the data from an upper layer protocol is collected in the form of a packet – or datagram. There is no real need for circuit setup before a host sends packets to another host to which it has never previously communicated. As such, IP is a protocol without a connection – in direct contrast with public switched telephone networks that require the setup of a circuit in order for each phone call to go through. As a result of the IP encapsulation, it can be used over a heterogeneous network (a network connecting computers that may consist of a combination of connection tools) in order to resolve IP addresses to data link addresses.

Summary:
1. TCP is a core operating on a relatively high level IP operates at a lower level.
2. TCP provides communication services at an intermediate level between an application program and the IP. IP encapsulates all data, and is connectionless.

Friday, February 18, 2011

World cup opening ceremony 2011 - ICC Cricket World Cup 2011

 ICC world cup2011 schedule...
The Big curtain of ICC World Cup 2011 will be raised on Today Thursday 17 February 2011 at the Bangabandhu National Stadium in Dhaka, All cricket world is eagerly waiting for opening ceremony of World Cup 2011. Cricket is one of the most popular sports in India and going to host World Cup for the third time in its history after England, no surprise that tickets of the opening ceremony have already been sold out.
An Indian event management company is organizing the opening ceremony. Crowds can enter into the stadium from 02:30pm local time (08:30 GMT). This event telecast will go live on STAR Cricket from evening 5:30 PM local time India and you can watch the highlights of it on next day.
Main attraction is rickshaw riding of 14 captains of the participating teams. All the captains will arrive at the stadium riding on rickshaw which is a traditional vehicle of Bangladesh. There will be some other events focusing on showcasing the rich culture and heritage of Bangladesh. Singers from three host countries will perform at the grand opening ceremony. Three Bangladeshi female singers including Runa Laila, Sabina Yasmin and Mumtaz along with star Indian singer Sonu Nigam and famous music composer trio Shankar, Ehsan and Loy would perform at the ceremony before renowned Canadian rock star Bryan Adams comes on the stage to provide some international glare to the grand opening ceremony. The biggest attraction of the opening ceremony is perhaps the glittering show of fire-crackers. According to media reports, the fire-cracker show will last for 20 minutes.
Sheikh Hasina, the prime minister of Bangladesh, will announce the opening of the tournament. High officials from International Cricket Council (ICC) including its president, cricket board presidents of host countries and a number of former cricket legends are expected to be present at the opening ceremony.Its good for Indian ocean than we are going to host cricket world cup 2011 best of luck to Bangladesh.

Monday, February 14, 2011

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Sunday, February 13, 2011

Gate 2011 EC key for all sets


 GATE-2011 Answers of ECE paper:(All 4 sets)
  Set – A                   Set – B                      Set – C                       Set – D
1.         A
34.       A

1.         C
34.       B

1.         A
34.       B

1.         D
34.       B
2.         B
35.       B

2.         C
35.       B

2.         C
35.       B

2.         C
35.       A
3.         A
36.       C

3.         D
36.       C

3.         A
36.       D

3.         A
36.       C
4.         B
37.       C

4.         B
37.       D

4.         D
37.       C

4.         B
37.       C
5.         C
38.       A

5.         B
38.       B

5.         D
38.       B

5.         C
38.       B
6.         A
39.       B

6.           A
39.       B

6.         D
39.       B

6.         A
39.       A
7.         D
40.       A

7.         B
40.       B

7.         A
40.       D

7.         B
40.       D
8.         D
41.       D

8.         A
41.       C

8.         C
41.       D

8.         A
41.       C
9.         D
42.       C

9.         C
42.       C

9.         A
42.       C

9.         B
42.       C
10.       A
43.       D

10.       B
43.       C

10.       A
43.       D

10.       B
43.       C
11.       C
44.       D

11.       A
44.       D

11.       B
44.       A

11.       D
44.       B
12.       A
45.       B

12.       D
45.       A

12.       A
45.       B

12.       C
45.       B
13.       C
46.       B

13.       A
46.       B

13.       C
46.       C

13.       C
46.       B
14.       C
47.       C

14.       C
47.       C

14.       D
47.       A

14.       A
47.       D
15.       D
48.       C

15.       B
48.       C

15.       A
48.       D

15.       C
48.       C
16.       D
49.       C

16.       A
49.       C

16.       B
49.       C

16.       A
49.       D
17.       B
50.       D

17.       A
50.       C

17.       C
50.       C

17.       D
50.       C
18.       A
51.       C

18.       C
51.       D

18.       A
51.       C

18.       D
51.       C
19.       B
52.       D

19.       A
52.       A

19.       B
52.       D

19.       D
52.       A
20.       A
53.       D

20.       D
53.       B

20.       A
53.       D

20.       A
53.       B
21.       C
54.       A

21.       D
54.       D

21.       B
54.       A

21.       C
54.       D
22.       B
55.       B

22.       D
55.       D

22.       B
55.       B

22.       A
55.       D
23.       A
56.       A

23.       A
56.       A

23.       D
56.       C

23.       A
56.       B
24.       D
57.       A

24.       C
57.       C

24.       C
57.       C

24.       B
57.       D
25.       C
58.       C

25.       A
58.       B

25.       C
58.       D

25.       A
58.       A
26.       D
59.       B

26.       C
59.       D

26.       B
59.       A

26.       C
59.       A
27.       B
60.       D

27.       A
60.       A

27.       C
60.       A

27.       B
60.       C
28.       B
61.       B

28.       B
61.       B

28.       A
61.       C

28.       B
61.       D
29.       B
62.       B

29.       A
62.       C

29.       D
62.       D

29.       D
62.       C
30.       C
63.       C

30.       D
63.       D

30.       C
63.       C

30.       D
63.       B
31.       C
64.       D

31.       C
64.       C

31.       C
64.       B

31.       C
64.       B
32.       C
65.       C

32.       D
65.       B

32.       C
65.       B

32.       D
65.       C
33.       D


33.       D


33.       B


33.       A