product life cycle

The product life cycle charts the stages through which a product passes over time. it has six separate stages. 

1) development

2) launch 

3) growth

4) maturity

 5)saturation

6) decline

 During growth sales a profits should be rising. maturity see's a peak in sales and the profit generated can now be used to fund other products. Business's try and maximise the length of the maturity phase by undertaking extension stratergies. saturation is where competitors bring out rival products which draw sales away from…