product life cycle

• product lifecycle - intro, growth, maturity, (extension strategy), decline
• Pros of a Product lifecycle

  • Gives a forecast
  • help with target market & positioning
  • Helps analyse and manage the product portfolio
• Cons of a product lifecycle

  • strategic decisions can change the life cycle
  • Length cannot be reliably predicted
  • Decline is not inevitable
  • Difficult to know where you are
• extension strategies - aims to extend the life cycle of a product