Carolina Alvarez Vega

0215179
Tarea 2 - Fecha de entrega: 10/08/22

Product Life Cycle

The product life cycle refers to the differential stages a product goes through from its
introduction to its withdrawal. It is a tool used to determine the strategies that will be used at
any stage in a product’s development for sales and marketing purposes. It has four stages:
1. Market introduction
2. Growth
3. Maturity and saturation
4. Decline

Each of these stages suggests different business actions that can improve the profitability of
the product. The product life cycle assumes that the majority of products have a life span. At
each stage, the business faces a different set of advantages and disadvantages, setbacks
and opportunities.

1. Market introduction
First stage after a product is developed, the introduction into the market. This product
development life cycle’s stage is on high stake but does not decide whether the product will
be successful or not. A lot of marketing and promotional activities are undertaken.
Companies are able to understand how users will respond to the product.

2. Growth
In this stage, consumers start to take action. They buy the product; the product becomes
popular and results in increasing sales. The market for the product expands and it may also
be modified to ensure some features. Sales may increase and therefore the product and
market grow.

3. Maturity
In this stage, sales slowdown, indicating that the market has begun to reach saturation. It is
one of the stages of the product life cycle when pricing becomes competitive and this makes
the margins thinner. The purpose of marketing is to fend off competition and sometimes,
altered products are introduced.

4. Decline
Even though companies make all efforts throughout the different stages of the product life
cycle to ensure that it stays alive and in the market, an eventual decline cannot be ruled out.
Eventually the product retires from the market.

Reflection - How do I think Agile fits into PLC and vice versa.
I believe that throughout the PLC it's necessary to use a methodology like Agile. If we
consider that in the first stage of the PLC you laun an MVP, you must be open to make
modifications, adjustments and improvements to your product according to what the user
requires. In the Agile methodology, one of the principles is precisely to give priority to the
satisfaction of the customer needs. On the other hand, in a PLC it is important to be open to
change, just as one of the values of the Agile methodology says “respond to change over
following a plan”. That is how the use of Agile can help in the PLC and how the PLC can be
the perfect example of a project in which you can have a specific plan and you need to react
to the different necessities that can emerge during the cycle.
Bibliography:

● What is product life-cycle? The Interaction Design Foundation. (n.d.). Retrieved

August 23, 2022, from
https://www.interaction-design.org/literature/topics/product-life-cycle
● Jaiswal, S. (2022, August 9). Product life cycle different stages with examples:
Emeritus India. Emeritus. Retrieved August 23, 2022, from
https://emeritus.org/in/learn/different-stages-of-product-life-cycle/
● Pettinger, T., Peter, Zee, Raja, H., Kyle, Scholten, G., Mamma, J., Regina, jha, G.
prakash, Paige, Santhathi, & Thorne, J. (2022, July 19). Product life-cycle.
Economics Help. Retrieved August 23, 2022, from
https://www.economicshelp.org/blog/140934/business/product-life-cycle/