Most large companies produce a variety of goods and services designed to meet consumers' needs and requirements. Consumers' expectations and requirements change over time, so firms need to develop new products. Market focused companies use market research to identify these trends. They are continually developing new products, some of which are completely new ideas, while others are improvements on existing ones, also me-too products to find other ways to offer differentiation within their product portfolio.
A firm's need to keep developing new products means that at any one time a typical large company will have a portfolio of products, not all of which will be at the same stage in their product life cycle. Some products will be new and may be struggling to make headway, others will be established and growing in importance, while others will have matured and be in decline.
This Case Study shows how BIC(r) understands product life cycles and appreciates the importance of matching promotional activities to the various stages in the life cycles of the products in its portfolio.