Product life cycle

By
K M Sheik shaffan
Roll no: 712240
Meaning:
A product life cycle is the amount of time a product goes from being introduced into the
market until its taken of the shelves.

Four stages:
 Introduction stage
 Growth stage
 Maturity stage
 Decline stage
Introduction stage:
This is the first stage of PLC, starting with product ideation and continuing until the product is
introduced in the market. In this stage, brands conduct marketing and promotional activities, adapt product
life strategies, etc., to ensure the product reaches its target audience.
Examples of products in introduction stage: self driving cars, smart glasses, foldable TV and smartphones

Growth stage
consumers have accepted the product in the market and customers are beginning to truly buy in.
that means demand and profits are growing, hopefully at a steadily rapid pace. The growth stage is when the
market for the product is expanding and competition begins developing.
Examples of growth stage: electronic vehicles, artificial intelligence etc…
Maturity stage:
Maturity. After several years in business, your company may hit a stage of maturity when it's more
stable and profitable. This is the third stage in the life cycle of a business.
Examples of products in maturity stage: Smartphones, streaming devices etc…

Decline stage:
The decline stage of the product life cycle is the terminal stage where sales drop and
production is ultimately halted. Profitability will fall, eventually to the point where it is no longer profitable
to produce, and production will stop.
Examples of decline stage: landline phones, CD-drives, DVD player, Radio etc…
Thank you