INTRODUCTION Introduction is the first stage of the product life cycle. Customers must be prompted to try this new item and the cost is very high to start. We often use price to compare to quality, we tend to think â€œhigh price, high qualityâ€?. -The iPhone 5 has just introduced itself into the market, they must convince their customers that this is the best iPhone yet. Price is high and so is advertising.
GROWTH Growth is the second stage of the product life cycle. Making more money because of less advertising. -Skype is noticed and more people use it, it’s enjoying it’s climb up to the top. It’s any easy way to contact people and it’s very affordable.
MATURITY The third and most common stage of the product life cycle. Companies are fighting to maintain their share. This is when the most profit is earned as a whole. -Pepsi Is in the maturity stage. It fits all these descriptions of this stage. Pepsi is raking in the cash right beside is main competitor CocaCoca-Cola.
DECLINE Decline is the last stage of the product life cycle. This product is no longer popular or making a lot of money and taking off the market or left for the crows. -MSN messenger is on the decline. Not many people use this product anymore. They Skype or Facebook chat.
Published on Oct 1, 2012