We are here to educate on the product life cycle stages and help people understand the strenths and weaknesses of this concept. By explaining the product life cycle stages, we clearly define the phase, each with its own characteristics that will have different impact on each reader depending on their particular situation. We discuss introduction, growth, maturity and decline.
We also go into new product development, because before a product comes to market, it must be developed. This is where most of product’s costs are determined because these costs are “designed in” before the first product every rolls off the assembly line. New products need to be developed constantly as existing product move to the maturity phase and replace revenue lost to new competitors in the market.
And the Product Life Cycle model does have its flaws. We cover that as well in the challenges section of our site. To understand the difficulties of using the Product Life Cycle Curve, just look at it in a little more detail and you will find that profit as well as revenue should be a key component of your analysis.
We look forward to your feedback on our site.