Product Life Cycle Flashcards
1
Q
Introduction
A
The product is launched and released onto the market.
2
Q
Growth
A
If the launch is successful sales increase sharply and the product may make profit for the first time.
3
Q
Maturity
A
Sales growth slows down, but repeat customers continue to buy and customers become loyal. The market becomes saturated as rivals bring out competing products.
4
Q
Decline
A
Eventually the product is outdated and there is a big fall in sales, leading to withdrawal.
