Question

How do you represent the sequential stages of the product life cycle concept? .

Answer 1

The best time to launch a new product should be established based on the analysis of the market, industry, competition, technology, capacity and many more aspects that determine, a priori, the suitability of such a moment. But the evolution of a product in the market has been analyzed over the years to be able to have very approximate data of its behavior, currently having models of prediction of this evolution that, despite the nuances in each case Should be taken into account, can give a very approximate idea of ​​such evolution, as is the case of the so-called Product Life Cycle. The Life Cycle of a product is a model of analysis of the trend of sales evolution from its launch in the market until its withdrawal, which determines and defines a set of consecutive stages with specific characteristics, which allow analyzing the Different conditions present throughout the period in which the product remains active in the market. The study of each of these stages can provide the key to the situation of each of the products of the company, based on the general trend of them, which is represented in Figure 1 below. However, both the sales and the times of each product will be in relation to each company, therefore, an individualized study must be carried out in each case.