07-10-2016, 02:42 PM
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INTRODUCTION
The product life cycle is the time period, in which the item is developed, brought to market and eventually removed from the market. First, the idea for a live product research and development. If the idea is determined to be viable and potentially profitable, the product will be manufactured, marketed and launched. Assuming the product to be successful, production will grow up to be a widespread product. Finally, demand for products will decline and it will become obsolete.At the beginning of the product life cycle, it may have a little competition in the market is not, until the beginning of the competition, it shows signs of success follow. As products become more successful, it will face more and more the number of competitors and may lose market share.Its life cycle stages of products are currently in will affect their sales to consumer’s way. For example, a new product will need to explain to consumers, while the product is further along in its life cycle will need to be distinguished from its competitors.