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Product life Cycle

Product life cycle as defined is the stages through which a product passes before being withdrawn by the company. These stages are hypothetical and used from an analysis point of view. There are no laws that define the boundary of each stage and each stage overlaps the other. It is not necessary for the product to follow this pattern and the length of time each product spends in each stage varies. The stages are Introduction, Growth, Maturity, Decline and Withdrawal.



I am going to explain each stage with the help of the I-pod made by Apple and give certain strategies they have followed in respect to the flow of the product through various stages in the Product Life Cycle chart.

Introduction

In this stage the product is launched and making profit is not the real motive. It is more to do with awareness. The apple I-pod was launched in 2001 and gave Apple Inc. an edge over all its competitors. Apple was able to charge a premium price and make huge......

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Approximate Word Count: 529
Approximate Pages: 3 (250 words per double-spaced page)

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