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The product life cycle., Mía Mongilardi. - Coggle Diagram
The product life cycle.
Stage 3: Maturity:
Sales decrease until they stabilise.
Marketing: brand loyalty.
Products have more market share.
A lot of competitors.
Stage 1: Introduction
Research and development (R&D).
Product is put into the market.
Costs incurred high and sales low.
Not likely to have profits.
Customers: people that have to buy the latest products.
Marketing: awareness.
Stage 2: Growth:
Sales grow.
More competitors.
More likely to make profit.
Marketing: brand preferences.
More stuff added to the product.
Stage 4: Decline:
Sales fall.
The money used in marketing is reduced.
Very often that these products that get to this stage are
withdrawn.
Mía Mongilardi.