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Product Life Cycle
The life cycle of a product ranges from its initial concept and introduction
to the market right through to its decline and eventually its
extinction/replacement
The life cycle can be divided into 4 separate stages. These are:
1.Introduction
2.Growth
3.Maturity
4.Decline
How long a product's life cycle lasts for depends on 2 important factors:
1.Changes in materials and technology ("technology push")
2.Changes in consumer demand ("demand pull")…read more

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Introduction
Period when a product is newly released onto the market
At first, sales can be slow as consumers may not recognise the
benefits of the product
Good example of this is the Sony Walkman in the early 1980s...…read more

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Growth
As advertising takes effect and consumers see the benefits, sales
start to grow
During this stage, competitors may introduce their brand of the
product.…read more

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Growth
During this stage, competitors may introduce their brand of the
product.…read more

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Maturity
At this point, sales start to level off.
Market becomes saturated with competitors designs that have
different or improved features
Major companies monitor the market very carefully and have new
designs ready ­ in order to maintain their market share…read more

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