Product Life Cycle This is the stages a product goes through during its life. Products do not always last for ever eg platform shoes are not fashionable now and are not sold www.mrmcgowan.blogspot.com

This is the stages a product goes through during its life. Products do not always last for ever eg platform shoes are not fashionable now and are not sold

Stages of the Product Life Cycle Introduction – when the product first comes onto the market Growth – when the sales are going up Maturity – when you have reached all the people who will buy your product Decline – when your product starts to lose customers – falls out of fashion

Introduction – when the product first comes onto the market

Growth – when the sales are going up

Maturity – when you have reached all the people who will buy your product

Decline – when your product starts to lose customers – falls out of fashion

The Product Life Cycle Time

Increasing the product life Change the product slightly – Coca Cola brought out diet coke, caffeine free etc Change where you sell your product e.g. set up a website and sell on the internet Advertising campaigns – reminds people about your product Change your price – maybe have a special offer on one of your products

Change the product slightly – Coca Cola brought out diet coke, caffeine free etc

Change where you sell your product e.g. set up a website and sell on the internet

Advertising campaigns – reminds people about your product

Change your price – maybe have a special offer on one of your products