Product Life Cycle Introduction at Life

Product Life Cycle Introduction. The introduction stage is the initial part of the product life cycle after the development stage. Contemporary marketers try to plan for the life of the product before it is ever introduced.

As the product moves through the stages of the life cycle, the firm must keep revising the marketing mix to stay competitive and meet the needs of target customers. The understanding of a product’s life cycle, can help a company to understand and realize when it is time to introduce and withdraw a product from a market, its position in the market compared to competitors, and the product’s success or failure. Introduction, growth, maturity and decline.

Product Life Cycle Assignment Point

And this is the stage in which the product is introduced or launched into the market for the very first time after prior research on all of its target audience. The ipad is a good example of a new product, with a new concept, but not easy to copy. Product life cycle • product life cycle is a normative and descriptive model for the life of products in general • the plc’s importance to marketing decision makers is to help identify appropriate strategies The product life cycle is a series of stages progressing from the product’s initial entry to its ultimate withdrawal from the market.