Product Life Cycle Stages Introduction

Product Life CyclePresented By Rea Marinell Sabug

 It is the process a commercial product goes
through from when it is first introduced into the
market until it declines or is removed from the
market.
 The life cycle has four stages - introduction,
growth, maturity and decline.
 Every product has a life cycle and time spent at
each stage differs from product to product.

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Introduction
Product Life Cycle Stages
In this stage, the product is being released
into the market. During the introduction
stage, marketing and promotion are at a high
and the company often invests the most in
promoting the product and getting it into the
hands of consumers hoping to later cash in on
its growing popularity.

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Introduction
Product Life Cycle Stages
Aim to:
•establish a clear brand identity
•connect with the right partners to promote
your product
•set up consumer tests, or provide samples
or trials to key target markets

Conditions:
•In case large numbers of consumers ormarkets are not aware about theproduct.
•Customers are ready and willing to payfor a high price allocated to suchproducts.
•The level of competition is high andtherefore a firm is struggling to buildbrand image and preferences.
 Launching the
product at a high
price and high
promotional level to
face competition
and establish market
share quickly.
Product Introduction Strategies
1. Rapid Skimming