Life Cycle of a product
- Created by: lukecharlton
- Created on: 06-05-14 20:11
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- Life cycle of a product
- Introduction
- when the product first comes onto the market
- when advertising for the product first starts
- example: The first IPhone
- Growth
- Marketing takes effect
- Consumers see benefits of the new technology
- Sales start to increase
- Competitors introduce their versions of the product
- Maturity
- sales start to level off
- Market becomes saturated with other products
- competitors now bring out more updated versions with better technology
- Decline
- market is totally saturated
- sales start to decline with profits too
- decide weather to accept lower profits or stop producing it
- Planned obsolescences
- Introduction
- example: The first IPhone
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