4 Stages of the Product Life Cycle: Strategies for Success

product life cycle  Product life cycle · Research and development product is not on the market yet; research and development and testing take place · Introduction product is Products, like people, have life cycles The life cycle of a product is broken into four stages—introduction, growth, maturity, and decline

The product life cycle stages are 4 clearly defined phases, each with its own characteristics that mean different things for business that are trying to The product life cycle is a fundamental concept that maps out the journey of a product from its inception to its eventual exit from the market

Key Points · A product life cycle consists of four stages: Introduction, Growth, Maturity, and Decline · Business owners must carefully tend to Key strategies to consider throughout the different product life cycle stages, and how to make the most of each stage