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product life cycle - Coggle Diagram
product life cycle
Maturity Stage
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Products have to be discounted to keep sales high – so prices may be lowered or the product may be put on sale
Decline Stage
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The business may decide to heavily discount to get any last sales before the product becomes obsolete
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There is a trend towards more disposable items rather than products that can be fixed or repair – they are simply replaced with new ones, therefore repairable goods are in decline phase
Introduction Stage
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The introduction phase will involve high costs in research and development and the product may have been test marketed before launching, so profits may be negative
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