Intro to Business › Section K · Products and pricing › Topic K.8
The product life cycle
Products are born, grow, settle and fade. Knowing which stage a product has reached tells a marketer what to change in the mix, and what not to panic about.
In this topic
- Products have life stories
- Introduction
- Growth
- Maturity
- Decline
- Worked example: reading the stage from sales
- Strategy stage by stage
- Who buys when: the adopter categories
- Worked example: sizing the adopter groups
- Common mistakes to avoid
- Key takeaways
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