GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Introduction, Growth, Climax, Decline
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Start, Growth, Decline, Retire
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Introduction, Growth, Maturity, Decline
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Conceptualisation, Introduction, Maturity, Decline
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Detailed explanation-1: -The 4 stages of the product life cycle are introduction, growth, maturity, and decline. Learn how to leverage this into your business strategy. Do you want to build a successful product? If so, you need to understand the product life cycle.
Detailed explanation-2: -The product life cycle is defined as four distinct stages: product introduction, growth, maturity, and decline. The amount of time spent in each stage will vary from product to product, and different companies have different strategic approaches to transitioning from one phase to the next.
Detailed explanation-3: -A model for the product sales lifecycle, with the assumption of four major phases: introduction, growth, maturity, and decline. Curve of sales as a function of the time of the product on the market.
Detailed explanation-4: -The product life cycle is the progression of a product through five distinct stages: development, introduction, growth, maturity and decline. The concept was developed by German economist Theodore Levitt, who published his Product Life Cycle model in the Harvard Business Review in 1965. We still use this model today.