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Aadi Karani
Learning is key to s...ย โขย 1y
Hey guys yesterday we learnt about Product now let's learn about product life cycle.There are main 4 stages INTRODUCTION,GROWTH,MATURITY,DECLINE. Let's learn about these 4 stages. 1.INTRODUCTION- In this stage the product is just launched into the market,And identifies its market/PMF.It is the initial stage hence sales are very low but marketing is done on its peak for awareness 2.GROWTH- In this stage the the product experiences rapid sales growth as more consumers adopt it. Market acceptance increases, leading to expanding market share and higher profits. 3.MATURITY-In the maturity stage, sales stabilize as the market becomes saturated and competition intensifies. Companies focus on maintaining market share through pricing strategies, product improvements, and marketing efforts to retain loyal customers. 4.Decline-In this stage the sales & pr decline due to changes in tech,Consumer behaviour,etc. These are 4 major stages in PLC Follow me for this type of content! And upgrade urself
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