Product life-cycle
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The product lifecycle has four stages: introduction, growth, maturity, and decline. In the introduction stage, companies use penetration or skimming strategies to launch their new product. During growth, successful advertising leads to increasing sales. In maturity, sales growth stabilizes after rapid growth in prior stages. Finally, decline occurs when sales begin to fall and companies may withdraw the product from the market.
Product life-cycle
- 1. Product Life cycle 1 Presented By: HIMANSHU SWARNKAR
- 2. Product Lifecycle The stages that a product goes through during its life: Introduction Growth Maturity Decline. 2
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- 4. Introduction Stage There are two different strategies you can use to introduce your product to consumers: Penetration Skimming 4
- 5. Growth The Growth stage is where your product starts to grow. If you are successful with your advertising strategy then you will see an increase in sales. 5
- 6. Maturity If your product completes the Introduction and Growth stages then it will then spend a great deal of time in the Maturity stage. During this stage sales grow at a very fast rate and then gradually begin to stabilise. 6
- 7. Decline This is the stage in which sales of your product begin to fall. Many companies decide to withdrawal their products from the market due to the downturn. 7