Prod Life Cycle Flashcards
1
Q
Whats the intro stage
A
The introduction stage-> production of products is small in volume
Products might have bugs and need fine-tuning n enhancement
2
Q
Growth Stage
A
Economies of scale in production
Accurate Forecasting of demand
Increase production capacity
3
Q
Maturity Stage
A
Product improvements to the production process
Implement cost control measures to stay competitive and profitable
4
Q
Decline Stage
A
Switching to less-expensive production methods
Terminating current product model
Prepare to switch over to the production of new product model
