Hello Dr. ONeal an Classmates There are five stages in the life cycle analysis for a product. Theses stages are 1) introduction 2) development 3) growth 4) maturity and 5) decline. According to research some consider there to be 6 stages of this life cycle, which is called the withdrawal stage (Suttle,2018 ). This 6th stage is actually termination from the market. As noted the product sale will increase, however it will grow at a slower pace (maturity stage ). At some point lower prices might be implemented to keep in line with the competition. Once this takes place, sales for the product will start to decrease, and customers will not pay top dollar for the product. It is at this point that an administrator should decide on whether to terminate a product during the life cycle analysis ( Suttle, 2018 ). It can be tempting to leave a declining product on the market- especially if it served the company well in its time. This existence can absorb managers time and energy, and can discourage or delay the development of a new, and a more profitable replacement product (MindTools, 2018.pg.5). An example is when I walked into a Beauty Salon Store, in which I have been patronizing for several years. A particular hair product was selling at the price of $69.99, recently the price was dropped down to $29.99 for at least 6 months. Today upon visiting the store, I was told the product was terminated from the shelf. There are a few actions an administrator should review consistently to alleviate over budgeting for operating and maintenance costs of a capital project. The actions of any administrator should always entail 1. Effectiveness, and 2. Efficiency. Effectiveness is doing the right things. While efficiency is doing things right ( Mowrey,2016 ). For effectiveness and efficiency to both work an administrator should integrate planning all budgets process and procedures along with the developmental operating tactics ( Mowrey,2016 pg.4). Another action an administrator should review consistently to alleviate over budgeting of capital projects involves the investment approach. Administrators will be able to consider alternatives or substitutes that will have the same goals of the capital project ( Mowrey,2016.pg.5 ).ReferencesMindTools,2018. The Product Life Cycle. Retrieved from https://www.mindtools.comMowrey, Richard,2016. Volume 1 : Capital Budgeting- A Recurring Management Opportunity. Retrieved from www.mergermentor.comSuttle, Rick,2018. Product Life Cycle Analysis and Price Strategies. Retrieved from www.smallbusiness.chro.com
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.