Product Life Cycle Different Stages with Examples
Sales typically lag at this point as demand grows. Depending on the intricacy of the product, how fresh and original it is, how well it meets the wants of the client, and whether there is any competition in the market, this stage may take some time to complete. The likelihood of a new product creation meeting client wants is higher, although there is ample evidence that products can fail at this stage, preventing the occurrence of stage two. Due to this, a lot of businesses choose to build upon a creative pioneer's work by updating an old product and producing their own version. Visit Consumer Behaviour Assignment Help