Healthy food from students to students
Product life cycle (PLC) describes different stages involved in the life of manufactured goods. This cycle is extremely essential when it comes to business strategic planning because it touches on nearly every facet of marketing and drives many elements. There are stages that are characterized by the income generated from the product. These stages include introduction, growth, maturity, and deadline[1]. For instance, the salad and soup bars are introduced to new students on arrival to the university and the existing ones.
The next step in the cycle involves growth of the salad and soup bars. There is progression when more and more customers are experienced each day. Records kept by the management should show continued increase of customers as the bar grows. This stage paves way for the maturity stage where the students are stable. They are permanent customers at the salad and soup bar and success is achieved by the bar managers. The process is cyclical because as students complete their studies, others are being admitted. The salad and soup bar managers introduce them to the business and the process continues. For this reason, the curve does not decline at any time. Instead, the process is cyclic[2].
The introductory stage can be achieved by organizing a launch of the bar in the university. This will enable the product to pick up quickly in the market and experience success over the competitors. In this case, the product is the salad and soup, and people should be told on the benefits of getting them from the bar and not from other places. During this introductory stage, students can be told on the consequences of continually eating junk food. They should be advised to replace it with the foods in the bar[3]. As they grow older, they are conversant with the happenings in the bar so the curve grows higher.
Some years after their admission, they are permanent customers of the soup bars hence the curve could be at level. The students are supposed to be leaving the university so the curve is supposed to decline. Since the university continually admits new students, the curve always remains growing and never declines. The new students who make the cycle continuous replace the ones leaving. PLC is the best method to use for the project because it gives room for a certain stage at every step of development[4]. The project is to provide healthy meals at a cheaper price. As much as the council wants to provide affordable food, they should also study the preferences among students. This is because they might offer healthy food but not for the students[5].
The sales curve in the soup and salad bar will rise as time progresses. On opening the bar, there are few customers but as time progresses more customers are available. This is due to the quality of salad and soup provided and introduction of manageable prices for the salad and soup. Most products fail during the introductory stage, so the salad and soup bar has to undergo an extremely successful introduction. Once this stage is achieved, it is easy to experience success in the business because the market is readily available. The students are always available to buy from the bar.
References
Bernstein, L. (1999). Analysis of Financial Statements . New York: McGraw-Hill.
Coyle, B. (2000). Cash Flow Control. New York: Global Professional Publishers.
O’Berry, D. (2006). Small Business Cash Flow: Strategies for Making Your Business a Financial
Success . New York: Wiley Publishers.
Wasson, C. R. (2001). Product management: Product life cycles and competitive marketing
strategy. New York: Challenge Books.
- [1] Wasson, C. R. (2001). Product management: Product life cycles and competitive marketing strategy. New York: Challenge Books.
- [2] O’Berry, D. (2006). Small Business Cash Flow: Strategies for Making Your Business a Financial Success . New York: Wiley Publishers.
- [3] Coyle, B. (2000). Cash Flow Control. New York: Global Professional Publishers.
- [4] Bernstein, L. (1999). Analysis of Financial Statements . New York: McGraw-Hill.
- [5] Wasson, C. R. (2001). Product management: Product life cycles and competitive marketing strategy. New York: Challenge Books.
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