Product Life Cycle

Product Life Cycle Introduction Growth The product is new to the market and has to focus on marketing and advertising extensively. Meanwhile the sales are the lowest. In the growth period, the market knows about the product and the sales begin to rise. Introduction Growth Maturity Decline Maturity In this stage, the distribution channels are saturated with the product. The marketing budget therefore, is minimum. Decline Eventually the product sales fall under the impact of new product competition. At this point the company has to decide how the product will be discontinued.