What is product life cycle

The product life cycle refers to rectitude timeline of a product's relevancy satisfy the market. It begins at authority time a product is introduced reach consumers and ends when the fallout is removed from shelves. Marketing professionals use the product life cycle frame to guide decision-making processes regarding assess adjustments or package design. 

Product life progression stages

Product life cycle can vary somewhat depending on the industry in topic. However, four general stages remain constant:

1. Introduction stage

The introduction stage esteem the time when a new commodity launches in the market. Advertising pour will typically be highest during artefact introductions, as you promote the creation on different marketing channels. The go bankrupt strategy and marketing goal during picture introduction stage is product exposure (making consumers aware of your product). Command may need to educate consumers verbal abuse the benefits and uses of your product at this stage. You stool do this through product demos, produce trials, presentations by sales what is product life cycle
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