Question

6. A product life cycle is divided
into.......... *​

Answer 1

Explanation:

The product life cycle is broken into four stages: introduction, growth, maturity, and decline

Answer 2

A product life cycle is divided into four stages- introduction, growth, maturity, decline.

• The stages help the marketing professionals to determine the suitable time for reducing prices of products, redesign packaging, or increase advertisements.

• The stages are explained as follows:

1. Introduction- the product just gets introduced to the market and the seller has to induce demand for it. The sale starts at zero and gradually starts increasing.

2. Growth- The sale and profit of the product increase as the market slowly start accepting the product. Advertising further boosts up the sale. However, it increases until many competitors enter the market.

3. Maturity - It is mostly the longest period in the life cycle of a product. The sale reaches a peak before declining. Also, an important aspect of this stage is persuasive promotion.

4. Decline- The sale and profit decreases due to many factors such as competitors, change in technology and customer tastes, etc.