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Only Buziness

Business enthusiasti...ย โ€ขย 6m

Have you ever listened about product saturation or maturity stage of the product ? little bit confused by this term , right! . Product life cycle means the stages which a product goes through from the launch to eventually removed out of the market , Mainly this helps a marketer and founder to understand about the preferences of the market The Product Life Cycle (PLC) has four stages: 1. Introduction: Product is launched, sales are low, and costs are high. 2. Growth: Sales increase, profits grow, and competition rises. 3. Maturity: Sales peak, market saturates, and competition intensifies. 4. Decline: Sales drop, profits shrink, and the product may be discontinued. It helps businesses plan marketing, pricing, and production strategies. If you want to know more please visit Onlybuziness.in

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