Cannibalization and Product Life Cycle Management

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1 Middle-Eas Journal of Scienific Research 19 (8): , 2014 ISSN IDOSI Publicaions, 2014 DOI: /idosi.mejsr Cannibalizaion and Produc Life Cycle Managemen Ali Farrukh Insiue of Adminisraive Sciences, Universiy of he Punjab, New Campus, Lahore, Pakisan Absrac: The paper idenify he opimal ime (s) in produc life cycle sages for inroducing new produc in he marke and shuing down he producion of exising produc. Coningency approach has been used o evaluae oucomes of differen possible markeing decisions ha a firm can op. Opimal combinaion of markeing decisions is one ha maximizes he overall profi for all he subsequen periods ill he remaining life of exising produc. Moreover five coningency facors of markeing decisions are found. The paper is limied o a siuaion where only one new produc is assumed o have influence on one and only one exising produc. The paper includes implicaions for maximizing he profi by proposing a mehodology ha idenify he bes iming for inroducion of new produc and disconinuaion of exising produc. Key words: Cannibalizaion Payoff Marix Produc Life Cycle INTRODUCTION The purpose of his sudy is o consruc a mehodology ha will help in minimizing he impac of Firms inroduces new producs because of cannibalizaion on a firm s profiabiliy by aking an echnological developmen and changes in consumer opimal marke iming decisions abou he exi of exising needs over he period of ime. Firms need o spend in produc and launch of new produc. This sudy answers research and developmen in order o inroduce he research quesion ha how o make a balance innovaive producs in he marke o gain aracion and beween choice of compeiive advanage by inroducing compeiive advanages. Bu inroducion of hese new innovaive producs earlier han compeiors and lae producs no only influence he marke of enough o avoid he disadvanages caused by inernal compeiors producs bu also someimes is own compeiion of producs of same firm. producs. The compeiion arises beween producs under same brand in he marke. This inernal compeiion Cannibalizaion: Oxford dicionary defines cannibal beween producs of same firm is desrucive someimes as A person who ea human flesh. In general erms i is raher han consrucive because he share of exising defined as An animal ha eas animals of his own produc declines as a resul of launching a new produc. kind. In he field of markeing his erm has been used No only he share of exising produc declines bu also firs ime by Heske [1]. Produc porfolio he life of exising produc is shorened as a resul of cannibalizaion (PPC) is he process of reducion in inernal compeiion beween producs. Even a successful profi of an exising produc due o inroducion of a innovaion resuls in lower performance because of new produc in marke under he same brand and in he inernal compeiion beween producs. Successful same produc line [1]. Meredih and Maki (2001) [2] innovaion provides a compeiive advanage o a firm a define wo ypes of producs porfolio cannibalizaion, one end bu also a disadvanage of inernal compeiion upward and downward. In upward producs porfolio among producs of same firms. Marke iming of new cannibalizaion he price of new produc is high as produc is imporan in his regard and firms mus marke compared o exising produc and people swich o he innovaive produc a a ime when i has a minimal impac new produc because of high qualiy. Downward produc on he sale of is equivalen exising producs. porfolio cannibalizaion occurs when he price of new Corresponding Auhor: Ali Farrukh, Insiue of Adminisraive Sciences, Universiy of he Punjab, New Campus, Lahore, Pakisan, Cell:

2 Middle-Eas J. Sci. Res., 19 (8): , 2014 produc is low as compared o exising produc and producs is inroduced in he marke. Lasly produc lines people swich over o he new produc because of low can be sreched in boh direcions. Filling of produc line price. ake place when he price of new producs falls beween Cannibalizaion may be unfavorable and may be he prices of exising producs [5]. favorable for he company. I will be unfavorable in he A similar concep o produc mix is brand mix which four cases. Firs i may be possible ha new produc is consiss of he brand lines. When a company inroduces offered a lower price or fewer unis are demanded by he a new produc in he already exising produc caegory marke as compared o exising produc which resuls in under he esablished brand, i is called line exension. less profi. Second due o dramaic change in echnology When a company uses an esablished brand o inroduce i migh be possible ha new produc will compleely a new produc, i is called brand exension. If new brand cannibalize he exising produc. Thirdly companies have is combined wih he exising brand for new produc hen o spend a lo of invesmen in produc developmen such brand exension will be called sub-brand. In such phase before launching ha produc in o marke and hen case he exising brand which gives birh o sub brand is recover he iniial invesmen cos by generaing revenue called paren brand. If paren brand is associaed wih and i will ake some ime o recover he iniial invesmen. muliple producs hrough brand exension hen i will also Lasly new produc also carries more risk and i migh fail be called family brand. in he marke and mosly high ech producs carry more Brand line refers o he se of producs under a risk [3]. paricular family and se of brand lines is called brand mix. There are following similariies beween producs mix and Produc Life Cycle Sages: Vernon (1966) [4] inroduced brand mix: four sage model of produc life cycle. Firs sage is he inroducion sage, when sale is low because people are Lengh of produc mix and lengh of brand mix is relucan abou new produc workings and funcions. always equal. Mosly producs fail in his sage and in laer sages Deph of produc mix and deph of brand mix is also probabiliy of failure declines. In he second sage, sale always equal grows rapidly and adverising expenses are made in ha If a company adops new brand sraegy hen he sage mosly. Then afer growh, mauriy sage sars boh produc widh and brand widh will be widened. when sale of he produc reach o is climax. Finally If a company adops line exension sraegy hen decline sage sars when marke is fully sauraed or some boh produc line lengh and brand line lengh will be compeiors have launched new produc. increased. Produc Mix Vs Brand Mix: In he following, produc mix So far as conras beween he wo conceps is and brand mix conceps are discussed as hese are relaed concerned, i is explained in Table 1 below. conceps for undersanding he Cannibalizaion Cusomers vary in responding o he markeing phenomenon. Produc is any offer by a company o gain decisions of firms. Highly loyal cusomers are unlikely o aenion from he marke. Produc line consiss of he swich o oher brands even if he producion of exising producs having similar funcion. Number of producs in produc is sopped and alernaive new produc has a specific produc line is called produc line lengh. higher price. On he oher end, less loyal cusomers are Produc mix is se of all produc lines. Each produc line likely o swich over o oher brands when exising is refers o he produc group. Number of produc lines is disconinued in marke even if he alernaive new produc called widh of he produc mix. Companies can increase has lower price. Firms mus ake ino accoun he he lengh of is produc lines eiher by sreching he proporion of is cusomer ha can be swiched over o produc line or by filling he produc lines. Sreching of oher brands as a resul of markeing decisions. lines can ake place in hree ways. Firs upward line Cusomers also have he choice o swich over o new sreching occurs when a produc wih higher price as produc of same brand when exising produc is also compared o price of exising producs is inroduced in he available in marke. Bu his will depend on price and marke. Second downward line sreching occurs when a qualiy of exising and new producs and cusomers produc wih lower price as compared o price of exising assigns differen weighs o price and qualiy. 1081

3 Middle-Eas J. Sci. Res., 19 (8): , 2014 Table 1: Conras beween Produc mix and Brand Mix PRODUCT MIX BRAND MIX 1 Se of all produc lines. Se of all brand line. 2 Produc line consiss of he producs having same funcion. For example Brand line consiss of he producs under a paricular family brand and P&G has he following produc lines:tooh pase, deergens, soaps ec. hese producs migh have differen funcion. For example P&G has he following brand lines:madicam, Sony, Dove, Nokia ec. 3 In a paricular produc line, some producs migh have In a paricular brand line, all he producs mus have same brand name. a differen brand name. 4 If a company adops brand exension sraegy hen widh of he If a company adops brand exension sraegy hen here will be no effec produc mix will be widened. on he widh of he brand mix. 5 If a company adops brand exension sraegy hen here will be no effec If a company adops brand exension sraegy hen here brand line lengh on he produc line lengh. will be increased. 6 If a company adops muli brand sraegy hen here will be no effec If a company adops muli brand sraegy hen he widh of he brand mix on he widh of he produc mix. will be widened. 7 If a company adops muli brand sraegy hen produc line lengh If a company adops muli brand sraegy hen here will be no effec on will be increased. he brand line lengh. 8 Produc mix is measured along following four dimensions: Lengh of Brand mix is measured along following hree dimensions:lengh of he he produc mix, widh of he produc mix, deph of he produc mix brand mix, widh of he brand mix, deph of he brand mix bu here is and consisency of he produc lines. no concep of consisency of he brand lines. Table 2: Payoff of Exising Produc Exising Produc Coninue Sop New Produc Launch Ee, ( 1- )* Pe / ( 1 i) 1o r s 0 + = ( ) Don Launch Ee, ( 1- )* Pe / ( 1 i) 1o r 0 + = Table 3: Payoff of New Produc New Produc Launch Exising Produc Coninue Sop ( En, + dee, )* Pn / ( 1+ i) ( ) =1 o r ( En, + d +? Ee, )* Pn / ( 1+ i) =1 o r Don Launch 0 0 Payoff Marix: There are four coningencies for he Price and variable cos of produc remains sable. produc markeing decisions and a payoff marix can be Oher firms can inroduce new producs firs or life used o represen he payoff under each coningency. For of new produc does no change wih marke iming opimal marke iming decisions, firms should no be shor decision of new produc. erm oriened or in oher words, firms should no focus only on he payoff of curren period only bu also on he Firms receive payoff in each period for boh exising payoff of subsequen ime periods. Following and new producs. Le suppose an exising produc of a assumpions are used in he proposed model for opimal company has r years remaining life and company has marke iming decisions. successfully developed a new produc afer incurring research and developmen cos. Launching his new There is one exising and one new produc under he produc may have impac on he sales of exising produc same brand name. if boh producs belong o same produc family and To sar producion minimal demand for any produc, remaining life of exising produc may be shorened if should be (1+ ) imes of breakeven demand where sales decline below minimal demand level (1+ imes of is greaer han 0. break even demand). 1082

4 Middle-Eas J. Sci. Res., 19 (8): , 2014 If Ee, is he demand of exising produc in excess of new produc do no capure adequae share of exising breakeven in ime period hen payoff for exising produc produc marke and hence loose cusomers. On he oher is E e, imes he difference beween price and variable cos end if manager decides o carry on producion wih (P e). Demand in excess of breakeven E e, declines if new inroducing new produc simulaneously hen new produc is launched and new produc will capure share produc will capure enough share of he exising marke from marke of exising produc subjec o he condiion o decrease is remaining life and hence decrease is ha producion of exising produc coninue. However if profiabiliy. company shu down producion of exising produc, hen new produc will definiely capure more share equal o Premium Share of Shuing down he Producion of +, where is premium share of shuing down he Exising Produc ( ): Premium share of shuing down he producion of exising produc. Remaining share of he producion of exising produc ( ) does no direcly marke (1- - ) consis of buyers who will swich over o influence decision regarding new produc however oher brands. Table 2 and Table 3 shows he payoff of deermines decision regarding exising produc. For low exising and new producs respecively using presen levels of, producion of exising produc should be value approach wih discoun rae (i), which is assumed o coninued bu as increases gradually, here comes a be sable over a relaively shorer period of ime ill life of poin, when i is opimal o replace he exising produc exising produc. Life of exising produc declines from r wih new one. o (r-s) years as a resul of inroducing new produc in he marke. Difference in Per Uni Payoff (Pn-P o): Third facor is Pn and E n are he Price and demand in excess of difference in profiabiliy of exising and new producs breakeven of he new produc respecively. New produc (Pn-P o). Higher he per uni payoff afer recovering he fix may be more profiable in specific period bu his is cos for new produc relaive o exising produc, more alhough necessary bu no sufficien condiion for new likely i will be launch new produc and shu down he produc o be launched because in subsequen periods, producion of exising produc. sales of exising producs declines and oher companies may capure he share. Decisions regarding exising and Remaining Life of Exising Produc (r): Remaining life of new producs are dependen upon five facors discussed exising produc (r) is also influences he decision making in he following. regarding producion of exising and new produc. As r decreases, probabiliy o replace exising produc wih he Cannibalizaion Rae: Keeping oher facor consan, for new one increases provided ha new produc is more low cannibalizaion rae ( ), new produc should be profiable afer recovering fix cos. launched in he marke provided ha new produc payoff per uni afer recovering fix cos is higher han ha of Excess Demand of New Produc in New Marke (E n): exising produc and forecased demand is greaer han Finally excess demand of new produc in new marke (E n) desired hreshold exising level. On he oher end relaive o exising produc is anoher facor. This is how producion of exising produc should be carried on much demand new produc is generaing ou of new because i will no decrease profi and life of exising marke. Greaer his demand, greaer will be he probabiliy produc much. However for high cannibalizaion rae ( ), o replace exising produc wih he new one provided ha producion of exising produc should be shu down new produc is more profiable afer recovering fix cos. because new produc is capuring high share of exising produc marke. In beween high and low cannibalizaion CONCLUSION rae, here exis a range where opimal decision is o coninue producion of exising produc and no o launch I is no always beer o release innovaion new produc in marke; alhough payoff per uni afer immediaely afer is complee developmen and esing recovering fix cos is higher for he new produc as because i may lead o inferior resuls because of decline compared o exising produc. This is because of he fac in sales and remaining life of exising produc. Company if firm sop producion of exising produc, significan may need o delay before inroducing new produc in number of cusomers will swich over o oher brands and marke and hence suffer from opporuniy loss. This is 1083

5 Middle-Eas J. Sci. Res., 19 (8): , 2014 because company need o maximize he oal profi of REFERENCES exising and new produc for all periods unil he life of exising produc. If focus is jus on he profi for curren 1. Heske, J., Markeing. New York: Macmillan. year, his will lead o inefficien resuls in relaively longer 2. Meredih, L. and D. Maki, Produc erms. Hence managers should ake ino accoun he cannibalizaion and he role of prices. Applied probable impac of cannibalizaion before aking decision Economics, 33(14): Rouledge. abou launching new producs. 3. Komninos, I., Produc life cycle managemen. Innovaion, Summer April, Rerieved from hp://urenio. org/ ools/ en/ Produc _ Life_Cycle_Managemen.pdf 4. Vernon, R., Inernaional invesmen and inernaional rade in he produc cycle. The Quarerly Journal of Economics, 80(2): Rerieved from hp://links. jsor. org/ sici? sici= % %2980%3a2%3c190%3ai IAITI%3E2.0.CO%3B2-F. 5. Koler, P. and G. Armsrong, Principles of Markeing 12h ed. pp: New Delhi: Pearson Educaion. 1084

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