Marketing-Assignment Phases of a product life cycle The product life cycle can be described as a time when a product is introduced to the consumers into the market until it is removed from the organization’s shelves. The four stages of a product life cycle are as follows: Introduction, growth stage, maturity stage, and finally, decline. The product life cycle is considered an essential tool used by marketers, management, and designers. It is also crucial as it offers guidance in developing strategies that provide the best use of every stage and promotes the overall success of the market’s products. Following are four products in four stages of the product life cycle ( Abramovici et al.,2017). Introduction stage: This is a time
