Question

Briefly highlight the four stages in the product life cycle...................................................

Answer 1

Answer:

Explanation:

There are four stages in the product life cycle, these stages are the following,

Introduction: this stage focuses on introducing the product into the targeted market, where the consumers can get their hands on and purchase the product.

Growth: this is the phase in which the product that was introduced begins to sell at an increased rate.

Maturity: this phase is the top of the product life cycle where the product sales have topped out and Demand seems to be at it's strongest.

Decline: this is the final phase of the product life cycle in which the product sales begin to decline, which may cause the price to increase up until the demand completely dies out.

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