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LIFE to DEATH
Product Life Cycle
This Cycle is divided into five Stages:-
Introduction Stage
Growth Stage
Maturity Stage
Decline Stage
Decision Stage
Introduction Stage
• Also known as “Innovation Stage”
• Launch of new product
• Large investment in production,
marketing, advertizing, labor,
distribution etc.
• Sell product at “High Price”
• Low Sale
• E.g. Luxury Cars, Smart Watches etc.
Growth Stage
• When demand start increasing,
company moves into second stage.
• Lower price due to increasing
competitors.
• Sale start increasing slowly and
slowly during time duration.
• E.g. iPhone, Internet Video Conferening
like Googlemeet, Zoom App etc.
Maturity Stage
• Sale at Peak Point due to
few newer customer.
• Sale becomes Saturated
due to high competitors.
• E.g. JIO Sim, Maggie etc.
Decline Stage
• Customer stop buying this product
in favor of something newer and
better
• Sales will start to fall, and the
overall profit that is available to
the manufacturers in the market
will start to decrease
Decision Stage
Illustrating all
stages at glance
for summary.
Product Life Cycle
• Introduction – when the product is introduced
and struggles to gain brand recognition.
• Growth – advertising and word of mouth helps
the product to increase sales. As sales growth,
more firms are willing to stock the product which
helps the product to grow even further.
• Maturity – When the product reaches peak
market penetration.
• Decline – the product gets eclipsed by new
products
Conventional Product Cycle
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