Product Life Cycle (PLC) and Industry Life Cycle (ILC)

PRODUCT LIFE CYCLE

 Life cycle of any product has 4 stages namely:-

1. Introduction
2. Growth
3. Maturity
4. Decline

Product life cycle

For Bookmyshow.com,  it has certainly passed on the introduction state because

Introduction - It started in 1999 when Indian IT industry was on a growth side. Hence, it did not face much of a problem of reaching to the customers. The problem that it faced was of educating people about e-ticketing and creating awareness about the benefits that it provided over the conventional methods of buying tickets

Growth  -Analyzing the current scenario, I believe that bookmyshow.com is in the growth stage and to be precise, in initial growth stage. As trend of online ticketing is beginning in India, hence, I believe that this is a promising time for bookmyshow.com. Also, as more and more people get computer friendly or internet friendly, the industry for online ticketing is going to have its positive effects

INDUSTRY LIFE CYCLE

Bookmyshow.com holds 90% market share in the online ticketing industry in India, , being the major destination for movie and non-movie options like concerts, plays, events and sports.

Kyazoonga.com is the second major holder after bookmyshow.com

Introduction - As the industry is too young in India i.e around a decade old, it is still in the introduction stage as more and more players join the industry. The major role that competition can play is to break the hold of bookmyshow.com and pose a threat to its advantageous position. The times when every competitor is competing to have the maximum hold will be the time to look up to. I feel that there are exciting times ahead.