product life cycle

Traditional Product Life Cycle

Introduction Growth Maturity Decline Decision Point

PLC - Introduction

Product launch; focus on features packaging brand identity; target early adopters; goal is awareness

PLC - Growth

Product popularity increases; competitors enter; features added; prices adjusted; competition for market share

PLC - Maturity

Sales plateau; profits fund new products; new consumers replace those lost to competitors

PLC - Decline

Sales fall as consumers lose interest; product loses market share

PLC - Decision Point

Product is reformulated repackaged or relaunched; sometimes price reduced to boost demand

Non-Traditional PLC - Fads

Products extremely popular for a very short time

Non-Traditional PLC - Knockoffs

Cheap copies or imitators of fad products

Non-Traditional PLC - Niches

Products dominate a small market with few competitors; often protected by patents or exclusive formulas

Non-Traditional PLC - Seasonal

Products popular only during certain seasons; popularity returns when season repeats