According To The Product Life Cycle Model Profits Tend To at Life

According To The Product Life Cycle Model Profits Tend To. It is a strategy tool that helps companies plan for new product development and refine existing products. The product life cycle is a pattern of sales and profits over time for a product (ivory dishwashing liquid) or a product category (liquid detergents).

Reach a peak near the end of the maturity stage. It can return to an earlier stage through creative marketing. Remain relatively constant until the decline stage, when they begin to drop.

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As the product moves through the stages of the life cycle, the firm must keep revising the marketing mix to stay competitive and meet the needs of target customers. Product life cycle comprises of four steps/stages. Many products going through the decline stage of the product life cycle will experience a shrinking market coupled with falling sales and profits. The product life cycle describes the stages of a product from launch to being discontinued.