Product Lifecycle

Products have a life just like any living thing. For products, their are generally 4 stages to their lifecycle: Introduction, Growth, Maturity, and Decline. While products don't have uniform lifecycles, you can expect nearly all products to go through these stages.

TERM IN ACTION

“After the initial phase of introduction, we were lucky to see that our Product Lifecycle had a very long growth phase, quality maturity, and a slow decline.”

MORE RESOURCES

the product lifecycle explained
Source: KB Research

Read more about Product Lifecycle here:

“Product Mindset: How to Get Inside Your Customer’s Mind”