GOODS AND SERVICES

Designs of Goods and Services

Designs of Goods and Services

Question Number One

How does the concept of product life cycle apply to Regal Marine products?

The concept of product life cycle is applicable on Regal Marine Products. During the launch of new boats, there are small sales and almost zero profit. The product is not yet well known in the market, so sales grow slowly. The prices of boat are high, but the competitive strategies allow Regal Marine to recover their costs. A significant role is played by the promotion stage, which consists of informing buyers about product qualities and encouraging them ...