![]() ![]() The luxury material and handmade product is the certisfact for their status. Refer to their ego needs for status, Vertu design and made the special phone for them. ![]() In this case, the basic need for survive is not enough for them. For the people how targeted by Vertu, they are high income group. This theory divides human needs into five levels including self-actualisation, ego needs, social needs, security needs and phusiological needs (Schiffman 2014). The theory of Maslow’s hierarchy of needs is the second thing which can relate to the developing of Vertu. Comparing with the old fashion style like Vertu, there is going to the period of depletion. Consumers are familiar with the convenient of the smart phones and educated to use them. What happened is that, the market has been controlled by companies like APPLE and SUMSUNG. After a long break, Vertu launches its first smartphone in 2010 (Vertu 2019). The smart phone was disappeared and took over the market quickly. However, with the developing of technology, people require more and more function like listen to music, watch movie and so on. After this, Vertu is going to a growth period and achieved service for 10,000 users in 2005(Vertu 2019). Therefore, Vertu attracted many customers by its special and high standard. ![]() People purchased phone for calling and sending message. At the process of introduction for Vertu, they are successful because the functions of mobile phone are sample at the beginning. In January 2002, the first-ever luxury mobile phone, Vertu Signature, was produced and introduced to the world (Vertu 2019). Funk (2004) and published in IEEE Transactions on Engineering Management (ISSN:1558-0040), the product life cycle caused because of technological discontinuities, competition and innovation especially in mobile phone. PLC theory explains the whole process of a new product from the beginning of entering the market to being eliminated by the market which could including the Introduction, Growth, Maturity and Decline (Schiffman 2014). The first theory that I’m going to relate to this brand is the PLC theory. ![]()
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