What's it: The growth stage is the part of the business cycle in which the company begins to enjoy high sales volume growth. Consumer awareness has also increased, reducing the risk of rejection. They try to buy a new product and, when
Product Life Cycle
Introduction Stage of the Product Life Cycle: Meaning, Characteristics
What's it: The introduction stage is the initial part of the product life cycle after the development stage. At this stage, the company launches a new product on the market. Synonym for this term is one of the launch stage and the pioneer
Decline Stage of The Product Life Cycle
What's it: A decline stage is the last phase of a product life cycle in which sales volume decreases. The decline may be rapid to death, or it may take a long time, depending on the type of product. At this stage, the market may consist of only
Mature Stage of Product Life Cycle: Meaning, Characteristics, and Alternative Solutions
What's it: The mature stage is the part of the product life cycle where the sales growth rate slows down (not negative). At this stage, you will see which products are winners and which are losers. Winners get prizes, which can generate ample cash