The Life Cycle

Intro Growth Mature Decline

INTRODUCTION

This is when a business first startes out, and is brought to the economy for the first time. there s little, to no profit in this stage and have no competitors. your goal in this stage is to have promotions to get your product out there.


GROWTH

At this point, costumers are aware of your product, and sales increase now. This is when companies focus on costumer satisfaction, and competition starts from other companies.


MATURITY

Now, is when product sales start to level off, and more of your money is spent on competition. it is harder to make a profit, so you have to make yourself separate from the competition and let people know the differences.



DECLINE

this is were your products sales and profits fall rapidly. Some companies decide to discontinue products when they hit the decline stage.