$ProductLifeCycleIntroductionstageGrowthstageMaturitystageDeclinestage$TheProductLifeCycle$IntroductionstageIntroductionstageiswhenthenewproductisfirstlaunched.MarketingObjective:createproductawarenessandtrialFeatures:1)takestime2)slowsalesgrowth3)littleornoprofit4)highdistributionandpromotionexpense$GrowthstageGrowthstageiswhenthenewproductsatisfiesthemarket.MarketingObjective:maximizemarketshareFeatures:1)salesincrease2)newcompetitorsenterthemarket3)profitsincrease4)productqualityincrease$MaturitystageMaturitystageisalong-lastingstageofaproductthathasgainedconsumeracceptance.MarketingObjective:maximizeprofitswhiledefendingmarket.Features:1)slowdowninsales2)manysuppliers3)overcapacityleadstocompetition4)IncreasedpromotionandR&DtosupportsalesandprofitExample:cellphoneP48第2段$DeclinestageDeclinestageiswhensalesdeclineorleveloffforanextendedtime,creatingaweakproduct.MarketingObjective:reduceexpendituresandmilkthebrandFeatures:1)maintaintheproduct2)Harvesttheproduct3)Droptheproduct