Demand for the benefit provided by a product has a life cycle and the product also has a life cycle based on the demand for the benefit and want for the particular product or brand.
The life cycle stages are emergence, accelerating growth, decelerating growth, maturity, and decline.
The concept of life cycle is also seen as product-category life cycle, product-form life cycle, product life cycle and brand life cycle.
The strategic alternatives for various product life cycles are discussed in another article.
Planned Revision schedule for marketing chapters is in February and March