Life Cycle of a product

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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
  • example: The first IPhone


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