Product Market Life Cycle – What is it?
Posted: Sat Apr 05, 2025 6:09 am
The product life cycle is the period in which a product is available on the market. It is divided into four phases:
product launch
sales growth
market maturity
decrease
In each of these phases, the product is at a different point in its development bank database , which means that different marketing and business decisions must be made in each .
That is why it is so important for every marketer to understand the product life cycle in order to make appropriate decisions – from setting pricing levels to spending on advertising or cutting costs.
Below is a chart illustrating the individual phases and showing how sales and profits are shaped in each of these phases.
product launch
sales growth
market maturity
decrease
In each of these phases, the product is at a different point in its development bank database , which means that different marketing and business decisions must be made in each .
That is why it is so important for every marketer to understand the product life cycle in order to make appropriate decisions – from setting pricing levels to spending on advertising or cutting costs.
Below is a chart illustrating the individual phases and showing how sales and profits are shaped in each of these phases.