Product life cycles consist of the introduction stage, growth stage, maturity stage, and decline stage. It is possible to show the product life cycle stage of each product by reviewing its market trends over some time.
Introduction stage
Products in this stage are 3D television and holographic projection technology. The two products are in the introduction stage since the market for them is still very narrow. Even though the 3D and holographic projection technologies have existed for more than a decade, the high price of these products has made them affordable to a few individuals.
Growth stage
Blue-ray players and Tablet PCs are examples of products in the growth stage. With the modification and advanced technology usage in these products, there is a steady growth of the market in terms of sales. The steady expansion in the market is a clear sign of products in the growth stage (Perreault, Cannon, & McCarthy, 2010).
Maturity stage
Laptops and DVD players are an example of products in the maturity stage. Introduced in the market several years back, the manufacturers of these products have established a steady market share and household name for different brands of these products. Despite the strong market share, the manufacturers of these products must contend with setbacks common with technologies in the maturity stage (Perreault, Cannon, & McCarthy, 2010).
Decline stage
Typewriters and video recorders are an example of products in the decline stage. Though the products are still in the market, their use has been replaced by better alternative products. It is very cheap and easy for a customer to change to modern alternatives (Perreault, Cannon, & McCarthy, 2010). For instance, it is cheaper and easier to use a computer instead of a typewriter.
References
Palmeri, C. (2005). Living on the edge at American Apparel. Web.
Perreault, W.D., Cannon, J.P., & McCarthy, E.J. (2010). Essentials of marketing (12thed.) New York, NY: McGraw-Hill/Irwin.
