Product Life Cycle Stages and Examples (2024)

FAQs

What are the product life cycle stages and examples? ›

There are four stages of the product life cycle: Introduction, growth, maturity, decline. Examples of products that have gone through a full product life cycle include typewriters, compact discs (CDs), and video home systems (VHS).

Real-Life Example: Coca-Cola (1886)

During the Maturity stage, Coca-Cola focused on diversification by introducing new products like Diet co*ke, co*ke Zero, and various flavored variants. They also heavily invested in marketing and brand-building to maintain their market position.

A product life cycle is the length of time from a product first being introduced to consumers until it is removed from the market. A product's life cycle is usually broken down into four stages; introduction, growth, maturity, and decline.

Using the Product Lifecycle to Manage Product Strategy

This is particularly true of the Maturity phase. This is the most important one to extend from a financial point of view because this is the period when the product is at its most profitable.

Here are a few product life cycle examples: The home entertainment industry is filled with examples at every stage of the product life cycle. For example, videocassettes are gone from the shelves. DVDs are in the decline stage, and flat-screen smart TVs are in the mature phase.

Stage 4: Maturity in market saturation

This is a critical stage for management and operations as they've now picked all the low-hanging fruit. A great example of market saturation is Netflix. While new streaming services are in the introduction and growth stages, the market originator has reached its saturation point.

According to “Product Life Cycle”, Starbucks has gone through development stage, introduction stage, and growth stage and finally its situation is root into maturity stage.

Answer and Explanation: Pepsico has been in its maturity stage since the 1980s, of its product life cycle, earning the parent company almost $20billion in annual revenue.

The development rate of Nike's revenue has leveled off as the company enters its maturity stage, which occurs when a product has gained widespread consumer approval (Armstrong & Kotler, 2022).

A life cycle is the series of stages of life for an organism, beginning with life and ending with death. An example would be the life cycle of a bird. A bird's life cycle consists of four main stages, which include 1) egg, 2) hatchling, 3) fledgling, and 4) adult.

What happens in the maturity stage? ›

4. Maturity. The maturity stage is when the sales begin to level off from the rapid growth period. At this point, companies begin to reduce their prices so they can stay competitive amongst the growing competition.

Growth: This stage occurs when the product sells rapidly and demand for the product increases. Maturation: This is when the product maintains sales and the demand for the product is at its peak. Decline: This occurs when the demand for the product shrinks.

Examples of products currently in the growth stage include artificial intelligence, smartphones, and electronic cars. A common reaction for companies with products in the growth stage is to expand the supply chain distribution of the product.

Maturity – In the maturity stage, sales slow down, indicating that the market has begun to reach saturation. This is also one of the stages of the product life cycle when pricing becomes competitive. This makes the profit margins thinner.

What is an example of the growth stage of the product life cycle? Smartphones are products that are in the growth stage of the product life cycle. Smartphones are available from a variety of key competitors and there has been a dramatic increase in smartphone sales worldwide since the early 2010's.

The four Ps are product, price, place, and promotion. They are an example of a “marketing mix,” or the combined tools and methodologies used by marketers to achieve their marketing objectives.

Some examples of products currently in the introduction stage include: Generative AI. Self-driving cars. 3D televisions.