Download Product Life Cycle

The Product Life Cycle
• A series of stages in which a product’s sales revenues and
profits increase, reach a peak, then decline
– Introduction
• Customer awareness and acceptance are low
– Growth
• Sales increase rapidly as the product becomes well known
– Maturity
• Sales are still increasing but at a slower rate; later in this stage,
sales and profits begin to slowly decline
– Decline stage
• Sales volume decreases sharply and profits continue to fall
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Product Life Cycle
Source: William M. Pride and O. C. Ferrell, Marketing: Concepts and Strategies, 15th ed. (Mason, Ohio: SouthWestern/Cengage Learning, 2010). Adapted with permission.
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Using the Product Life Cycle
• Marketers should be aware of the life-cycle stage
of each product for which they are responsible
and should try to estimate how long the product is
expected to remain in that stage
– Both must be taken into account in making decisions
about the marketing strategy for a product
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