Product Life Cycle
Every new product right from its entrance in the market until its elimination from the market goes through a certain sequence of stages known as Product Life Cycle. It is a sequential stage and its length varies from one product to the next. the main stages of the product life cycle are: development, introduction, growth, maturity and decline stage.
1. Development Stage It is the first stage of product life cycle. It is an important stage that is almost ignored by the traditional financial accounting model. A product starts from a new ideas or possible inventions
2. Introduction Stage This stage starts when the product is initially introduced to the commercial market for sale. Once the product or service is introduced to the market, focus on intense marketing effort is a must to establish a clear identity and to promote the product rather than making an immediate profit.
3. Growth Stage This should be a period of rapid growth in both sales and profits for the product or service. In this stage, maintaining product quality and including additional features or support services for the product should be considered, increasing distribution channels to cope with additional demand and aiming promotion at a wider audience.
4.lkjheroiwht uihewoif ewtwergjirg8reuw eri9wuridjg jdfihwe ijdif asdfwehf saldfj saidhfo eojfoisadfgiodw jfhaF roducts (Leica used their sensors for years and don’t even ask how that turned out) — because many of them couldn’t imagine a world in which selling one digital camera to a few power users would be more profitable than selling one-time-use film cameras to the masses… over the digital still camera market in the U.S. grew from 4.5 million units shipped in 2000 to 28.3 million units in 2007, according to PMA.Here are two quotes from Kodak corporate literature from the UM study:
The keys to Eastman’s success in making photography a popular leisure-time activity for the masses were his development of
1. Development Stage It is the first stage of product life cycle. It is an important stage that is almost ignored by the traditional financial accounting model. A product starts from a new ideas or possible inventions
2. Introduction Stage This stage starts when the product is initially introduced to the commercial market for sale. Once the product or service is introduced to the market, focus on intense marketing effort is a must to establish a clear identity and to promote the product rather than making an immediate profit.
3. Growth Stage This should be a period of rapid growth in both sales and profits for the product or service. In this stage, maintaining product quality and including additional features or support services for the product should be considered, increasing distribution channels to cope with additional demand and aiming promotion at a wider audience.
4.lkjheroiwht uihewoif ewtwergjirg8reuw eri9wuridjg jdfihwe ijdif asdfwehf saldfj saidhfo eojfoisadfgiodw jfhaF roducts (Leica used their sensors for years and don’t even ask how that turned out) — because many of them couldn’t imagine a world in which selling one digital camera to a few power users would be more profitable than selling one-time-use film cameras to the masses… over the digital still camera market in the U.S. grew from 4.5 million units shipped in 2000 to 28.3 million units in 2007, according to PMA.Here are two quotes from Kodak corporate literature from the UM study:
The keys to Eastman’s success in making photography a popular leisure-time activity for the masses were his development of