product life cycle
- 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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