Effects of Proper Management of Product Life Cycle On Achievement of High Sales Volume and Profit Margin of Hypo Bleach in Odogbolu Local Government Area of Ogun State

Abstract

 A company’s positioning and differentiation strategy must change as the product, market
and competitors change over the product life cycle stages. The product life cycle period
usually consists of four major steps: Introductory, growth, maturity and decline stages.
These phases exist and are applicable to all products or services. The study employed a
descriptive research method using data gathered from resident of Odogbolu community.
A self-structured questionnaire was designed which was used to gather information from
the respondents. The instrument was subjected to a reliability test of Cronbach alpha
which shows a co-efficient value of 0.74. Data gathered was analysed using descriptive
statistics and research hypotheses was subjected to correlation and regression analysis
with the use of Statistical Package for Social Science (SPSS Version 22.0). The result
shows that the Pearson correlation analysis were .976, .968 and .966 indicating a positive
relations of product life cycle on profit and sales volume. t-value of 5.918, 4.817 and
4.179 at .000 significant level. Based on the findings, the study therefore recommended
that more study can directly explore the impact of each product attribute preferences on
the product life-cycle and its pattern, which will help businesses conduct new product  development and product positioning strategy.