Standard product life cycle has four stages:

Question

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The standard product life cycle has four stages: introduction, growth, maturity, and decline. These stages represent the typical pattern of sales and profits for most products over their lifetime. The introduction stage is characterized by low sales and high marketing expenses as companies try to establish a market for the product. The growth stage is marked by increasing sales and profits as the product gains acceptance and competitors enter the market. In the maturity stage, sales growth slows and profits stabilize as the market becomes saturated and competitors fight for market share. Finally, in the decline stage, sales and profits decline as the product becomes obsolete or is replaced by newer products.

Standard Product Life Cycle Has Four Stages