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Chapter 10 Product, Price, and Place
Figure 10-1. The four
stages of the product life
cycle.
Maturity Stage
The maturity stage occurs when product sales are no longer
increasing quickly, but they are not decreasing quickly. Maturity
can happen when the market becomes saturated with a product or
a newer, better product is introduced to fill the need. During the
maturity stage, competition for customers is very intense. At this stage,
it may also be important to look for new ways that customers might
use a product or identify new markets for the product to avoid losing
revenue.
Decline Stage
Mature products eventually enter the decline stage. During the
decline stage, sales decrease. If sales rapidly decline, it may be time to
stop producing the product. In some cases, sales may decline so much
that the best decision is to stop selling the product.
Product Life Cycle
© Goodheart-Willcox Publisher
SALES
TIME
Introduction Growth Maturity Decline