product lifecycle Flashcards
1
Q
what are the stages of the product lifecyle
A
introduction , growth , maturity and decline
2
Q
what is introduction
A
when the product is launched into the market
3
Q
what does introduction include
A
investment in advertising , marketing more aware of features and benefits
4
Q
what is growth
A
significant increase in consumer demand occurs
5
Q
what does growth include
A
consumer demand , sales start to take off
6
Q
what is maturity
A
companies will receive marketing and strat to develop new products
7
Q
what is included in maturity
A
reach different market segments by introducing new products
8
Q
what is decline
A
consumer behaviour changes as there’s decrease in demand of product
