Product life cycle

• The four stages are introduction, growth, maturity and decline
• Development

  Researching and developing and testing takes place. Prototypes are built and modified before the product is ready to launch.
• Introduction

  Product is launched on the market advertising costs will be high to get the product is noticed.
• Growth

  Sales rise and a profit may be made if research and development and advertising costs have been recouped.
• Maturity 


  Sales are at its highest are profits are maximised.
• Decline 


  Sales begin to fall, sometimes as a result of new competitors or the new products, change in fashion or lifestyle.