Sarah Deacon writes about how products have life cycles. Constantly adapt or die?
We constantly see products come and go. Just as one product leaves the shelf there is a new one to fill its place. This trend occurs due to the success and demise of various products.
Each product has a specific lifecycle, which can be shorter or longer, depending on variables such as time, sales and profits. These three variables then determine which stage of the lifecycle a product is in: introduction, growth, maturity or decline.
Cell phones are a good example of a product that has a shorter lifecycle. Not long after they are introduced, they rapidly reach the growth stage and even the maturity stage. Statistics found on Apple.com state that the company had “sold over four million of its new iPhone® 4S, just three days after its launch on October 14.” This demonstrates just how fast these types of products can propel into the late stages of their lifecycle…
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