Scribd Logo
Upload

Welcome to Scribd!

  • 26 views

    Product Life Cycle Stages Explained: Introduction Stage

    Uploaded by

    Ringle Job
    The document discusses the product life cycle and its four stages: introduction, growth, maturity, and decline. During the introduction stage, costs are high for new product development and marketing. The growth stage sees increasing sales and profits allowing for more promotional spending. In maturity, competition is strongest and companies invest in maintaining market share. Eventually, the decline stage begins as the market becomes saturated or consumers switch to newer products. Examples given are Apple Watch in introduction, 3D TVs in growth, DVDs in maturity, and video cassettes/Blu-ray discs in decline.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Product Life Cycle Stages Explained: Introduction Stage

    Uploaded by

    Ringle Job
    26 views2 pages
    The document discusses the product life cycle and its four stages: introduction, growth, maturity, and decline. During the introduction stage, costs are high for new product development and marketing. The growth stage sees increasing sales and profits allowing for more promotional spending. In maturity, competition is strongest and companies invest in maintaining market share. Eventually, the decline stage begins as the market becomes saturated or consumers switch to newer products. Examples given are Apple Watch in introduction, 3D TVs in growth, DVDs in maturity, and video cassettes/Blu-ray discs in decline.

    Original Title

    9017634

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the product life cycle and its four stages: introduction, growth, maturity, and decline. During the introduction stage, costs are high for new product development and marketing. The growth stage sees increasing sales and profits allowing for more promotional spending. In maturity, competition is strongest and companies invest in maintaining market share. Eventually, the decline stage begins as the market becomes saturated or consumers switch to newer products. Examples given are Apple Watch in introduction, 3D TVs in growth, DVDs in maturity, and video cassettes/Blu-ray discs in decline.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    26 views2 pages

    Product Life Cycle Stages Explained: Introduction Stage

    Uploaded by

    Ringle Job
    The document discusses the product life cycle and its four stages: introduction, growth, maturity, and decline. During the introduction stage, costs are high for new product development and marketing. The growth stage sees increasing sales and profits allowing for more promotional spending. In maturity, competition is strongest and companies invest in maintaining market share. Eventually, the decline stage begins as the market becomes saturated or consumers switch to newer products. Examples given are Apple Watch in introduction, 3D TVs in growth, DVDs in maturity, and video cassettes/Blu-ray discs in decline.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    Most companies understand the different product life cycle

    stages, and that the products they sell all have a limited
    lifespan, the majority of them will invest heavily in new product
    development in order to make sure that their businesses
    continue to grow.

    Product Life Cycle Stages Explained


    The product life cycle has 4 very clearly defined stages, each
    with its own characteristics that mean different things for
    business that are trying to manage the life cycle of their
    particular products.
    Introduction Stage – This stage of the cycle could be the
    most expensive for a company launching a new product. The
    size of the market for the product is small, which means sales
    are low, although they will be increasing. On the other hand,
    the cost of things like research and development, consumer
    testing, and the marketing needed to launch the product can
    be very high, especially if it’s a competitive sector.
    Growth Stage – The growth stage is typically characterized by a strong growth in sales and profits, and because the company can
    start to benefit from economies of scale in production, the profit margins, as well as the overall amount of profit, will increase. This
    makes it possible for businesses to invest more money in the promotional activity to maximize the potential of this growth stage.
    Maturity Stage – During the maturity stage, the product is established and the aim for the manufacturer is now to maintain the
    market share they have built up. This is probably the most competitive time for most products and businesses need to invest wisely
    in any marketing they undertake. They also need to consider any product modifications or improvements to the production process
    which might give them a competitive advantage.
    Decline Stage – Eventually, the market for a product will start to shrink, and this is what’s known as the decline stage. This
    shrinkage could be due to the market becoming saturated (i.e. all the customers who will buy the product have already purchased
    it), or because the consumers are switching to a different type of product. While this decline may be inevitable, it may still be
    possible for companies to make some profit by switching to less-expensive production methods and cheaper markets.

    Product Life Cycle Examples


    It’s possible to provide examples of various products to illustrate the different stages of the product life cycle more clearly. Here is
    the example of watching recorded television and the various stages of each method:

    1. Introduction – Apple Watch
    2. Growth  – 3D TVs
    3. Maturity  – DVD
    4. Decline  – Video cassette;  Blueray discs/DVR

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy