
Product Life Cycle
The life of a product is the period over which it appeals to customers. The sales performance of any product rises from
nothing when the product is introduced to the market, reaches a peak and then declines to nothing again. A good
example of products that have had short lifespan in recent years are home computers. New models with new
specifications are launched on the market rapidly to be replaced by newer models. There is a similar story for mobile
phones.
The life cycle can be further broken down into distinct stages. Sales grow slowly at the introduction stage when a
product is new on the market and there is only a limited awareness of its existence..
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