Product Life cycle

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  • Product Life Cycle
    • Definition:
      • Product life cycle is the cycle   through which every product goes through from introduction to withdrawal or eventual demise.
    • Stages of the Product Life Cycle:
      • Introduction
        • The introduction stage of the product life cycle is where a new product is being launched by a company
      • Growth
        • The growth stage of the product life cycle is where there is more sales, interest and profit in a product.
      • Maturity
        • The maturity stage of the product life cycle is when the product has been established and the aim for the company is to keep there new product there so they can contain that market share.
      • Decline
        • The decline stage is where the product isn't as popular anymore so it will start to decline in sales and profit.

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