THE 5 STAGES OF PRODUCT LIFE CYCLE Introduction

THE 5 STAGES OF PRODUCT LIFE CYCLE • Introduction • Growth • Maturity • Decline • Decision

The Introduction Stage The 3 D-TV is a new product on the market. Not many people know much about it The price is extremely high. But will go down within the next few quarters. Demand is not strong, but it is growing because of the products increasing attention

The Growth Stage Apple is now on their second installment of the I-pad. The I-pad boasts many new feature, better battery life, and a lowered price. Now that the initial rush for them is over and more about the product is known, the price has been dropped, which puts them into the growth stage. From introduction to growth stage the I-pad dropped about 25 -35% in price.

The Maturity Stage Tools have been around as long as man has, and since the beginning of time they have been in the growth stage, and they have been getting better and better every year, every decade, and every century. Now that technology has reached its peak, tools have entered the maturity stage. Because there is no major room for improvement in today’s tools, and with the vast market competition and range of prices companies add little things like lights and levelers as selling points. In the tool market looks and design are becoming very popular because the market is so large.

The Decline Stage The mini-van concept has been around since 1930, but it was not really common until Chrysler/Dodge introduced the Caravan in 1984. Since 1984, mini-vans have become one of the most common cars on the road. Although mini-vans have vast popularity and use, they are becoming unpopular, and unwanted. This is because mini-vans are big vehicles, and they guzzle a lot of gas. And with gas prices that are more than double what they were in 1984, minivans are becoming hard to afford. Mini-vans are still being produced, but manufacturers are more geared towards mileage friendly SUV’s. And families are turning towards them too. 1984 Dodge Caravan 2010 Dodge Caravan

The Decision Point Stage The PS 2 is one of the longest running and most successful game systems. The PS 2 has sold more units than any other system, and game for it are still being made. Even though there are better systems, with 3 x as many features, the ps 2 still makes sales. Because of how out dated the PS 2 is, and how widely available and cheap it is, it is at the decision point. The PS 2 has stopped being profitable, and Sony has taken 90% of them out of the market. PS 2 prices are now at rock bottom, and remaining stock sitting, collecting dust.