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The Product Life Cycle | Part IV

marketing product life cycle

The product life cycle is a theoretical model that shows the stages that products go through from when they are introduced into the market to when they are removed. Although products don't go through the product life cycle identically, the model does provide a general framework for how businesses should adapt their marketing mix to the stage the product occupies in the product life cycle.

In the fourth and final video of our four part series, we'll explore how businesses can adapt their marketing mix to accommodate products that occupy the decline stage of the product life cycle. We'll finish up this video-- and series--with a discussion of how knowledge of the product life cycle can help business managers develop a more effective product mix.

 



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