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The Circle of Life

Every physical product has a life cycle--a movement from birth to death, as it were--that has four stages
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  • Introduction: The product is new, so promotion and publicity are key. Often a money-losing stage.
  • Growth: Sales volume increases, profits begin and competitors appear.
  • 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