GENERAL KNOWLEDGE

Detailed explanation-1: -Introduction Stage: The introduction stage shows low sales numbers as the product is being introduced in the market. Profit is zero or negative in this stage because of the heavy expenses of product introduction.

Detailed explanation-2: -The introduction stage is often preceded by a research and development stage. For the purposes of the product life cycle stages, we will start from when the product is first introduced to the marketplace. This stage is by far the most expensive stage in a product’s life cycle.

Detailed explanation-3: -The Introduction Stage. The first stage in a product’s life cycle is the introduction stage. The introduction stage is the same as commercialization/product launch, or the last stage of the new product development process. Marketing costs are typically higher in this stage than in other stages.

Detailed explanation-4: -Introduction Stage Some firms may announce their product before it is introduced, but such announcements also alert competitors and remove the element of surprise. Advertising costs typically are high during this stage in order to rapidly increase customer awareness of the product and to target the early adopters.

Detailed explanation-5: -The decline stage of the product life cycle is associated with decreasing revenue due to market saturation, high competition, and changing customer needs. Companies at this stage have several options: Discontinue the product.