Every physical product has a life cycle--a movement from birth to death, as it were--that has four stages
1 min read
Opinions expressed by Entrepreneur contributors are their own.
- Introduction: The product is new, so promotion and
publicity are key. Often a money-losing stage.
- Growth: Sales volume increases, profits begin and
- Maturity: Sales grow and then level off. More
competitors and more similar products. Price promotions often used
to take customers from competitors.
- Decline: Market looking to new products and technology
for need satisfaction.
Excerpted from Knock-Out Marketing: Powerful Strategies to Punch
Up Your Sales