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MBA in a Nutshell #11 – Marketing : Marketing Mix – Product – Product Lifecycle
By Growing your tree of prosperity  •  October 29, 2019

Like many living things, a product has a life cycle and evolves through multiple stages.

i) Introduction

At this stage, there is a lot of research and development. Sales and profits are low. A product at this stage his highly vulnerable and funds are needed to grow properly.

ii) Growth

At this stage, sales and profits are growing. A substantial amount of promotional effort is required to sustain this stage.

iii) Maturity

Sales and profits peak at this stage. Profits may diminish because competition is getting into this game.

iv) Saturation

Decreased profitability occurs here. Competitors are starting to get into the game.

v) Decline

Market share is slowly being eroded and cost cutting will occur at this stage.

vi) Abandonment

Production ends at this stage.

When you understand that everything has a beginning and an end, you begin to have less of an attachment to your product and more to the process of grandfathering a product through the various life cycles.

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By Growing your tree of prosperity
I have recently completed my Juris Doctor and I am waiting to be called by the Singapore Bar. For the past 15 years I was an IT manager and I have worked in multinationals, financial exchanges, trade unions and even a government agency. I started my career as an AS/400 administrator and moved on to manage IT projects and operations
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