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Product Life Cycle A product life cycle is a model that graphs the four stages...

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Accounting

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Product Life Cycle A product life cycle is a model that graphs the four stages that a product or service goes through during the "life" of its marketability: (1) introduction, (2) growth. (3) maturity, and (4) decline. Throughout these different stages, marketers have to work extremely hard to innovate and change their marketing strategies. Once a product has been developed and tested, it goes to market. There it may pass through a product life cycle of four stages: introduction, growth, maturity, and decline. This cycle is a theoretical model of what happens to sales and profits for a product class over time. However, not alfindividual products follow the life cycle, and particular brands may act differently. Nonetheless, the product life cycle may provide some basis for anticipating future market developments and for planning marketing strategles. Different stages in the product life cycle call for different marketing strategies. Match each brand and description to the stage in the product life cycio and the element of the marketing mix Aliustrated by the description

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