When it comes to the new “Snaps Pop” lifecycle, “there are four stages in the product life cycle: introduction, growth, maturity, and decline.” (Boundless, 2015). The order of the cycle is not guaranteed, but New Amsterdam hopes that the New “Snaps Pop” product life cycle will go in the order that was just listed above.
First we would introduce the new product before it is launched for sale into the market. Whereas New Amsterdam Vodka is a commonly known vodka drink, the same great tasting flavors of the drink will be used to create our new “Snaps Pop Sucker”, made with 5% alcohol. The second stage, the growth stage, is where our “Snaps Pops” will have been accepted by the people in the market, and more products are needed to accommodate the sales increase from the suckers. Once this product hit the market and our target audience accepts our product and begin buying the suckers, the growth from our sales will lead to the maturity stage of the “snaps Pops” lifecycle.
When we enter the maturity stage, our product sales will have reached its highest level. Once this happens and the “Snaps Pop” sales have reached its peak, the important thing for our company to do is to maintain sales at this point. Maintaining the sales of the “Snaps Pops” will help our company decide if the marketing strategies used were the correct ones, or if re-evaluation of the marketing strategies is needed. Not only that, but this stage also lets our company know how well the suckers are selling against market competition. Generally, companies with new and exciting product lines do not have a big issue with introducing a new product and growing from the sales, but this is not always the case. In the market, there are always odds that companies will face, and sometimes the difficulty of competition allows the odds to win.
However, in the final stage, the decline stage, “sales will begin to decline as the new “Snaps Pop Suckers” will have reached its saturation...