Stages of The Product Life Cycle

Introduction, Growth, Maturity, and Decline

Introduction Stage

Stage 1

The Introduction Stage is the stage where your product is first created, and no one knows about it.
  • Sales are low
  • Negative profits
  • Little to no competitors
  • Most expensive stage
Goals of Introduction Stage
  • Increase awareness
  • A lot of special promotion to grab customers attention

Growth Stage

Stage 2

The Growth Stage is the stage where your product is known a little, and it's starting to sale.
  • Rising sales
  • Negative profits still
  • Very few competitors
Goals of the Growth Stage
  • Be aware of competitors
  • Customer satisfaction

Maturity Stage

Stage 3

The Maturity Stage is the stage where your pretty comfortable, the sale meet a peak, and also the sales rate increase or decrease at this point.
  • Sales level off
  • High Profits
  • Descent amount of competitors, but the number of them is starting to decline
  • More money is spent on competitors
Goals of the Maturity Stage
  • Maintaining the market share they've built up
  • Considering product improvements/modifications
  • Grab the competitor advantage
  • Keeping customers satisfied

Decline Stage

Stage 4

The Decline Stage is the stage where you start to lose money, and the market of the product starts to shrink.
  • Decrease in sales
  • Decrease in profits
  • Number of competitors start to decrease
Goals of the Decline Stage
  • Making profit
  • Product alteration
  • Keeping the customers satisfied