product life cycle

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  • Created by: liam
  • Created on: 13-04-13 12:49
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  • product life cycle
    • there are many different sections to the product life cycle which show different parts in a product life
    • sections
      • 1)development:research is being done  and the product developed
      • 2)introduction:the product is launched
      • 3)growth:product is starting to sell, advertising taking place
      • 4)maturity:the product is at its peak
      • 5)saturation:the product is very popular and flooding the market
      • 6)decline:sales have decreased, competitors taking market share
    • making a product life cycle is good as it helps track progress, predict sales levels and helps predict profits
    • making a product life cycle is bad it could lead to inaccurate conclusions, doesn't apply to all products and customers may be unconvinced by ext strategies

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