The product life cycle encompasses the stages a product goes... Show more
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3
0
Niamh Douglas
16/09/2025
Business
Product - Marketing Mix
100
•
16 Sept 2025
•
Niamh Douglas
@niamhdouglas
The product life cycle encompasses the stages a product goes... Show more
The development stage marks the beginning of a product's life cycle. During this phase, the product is not yet available on the market.
Key characteristics of the development stage include:
Example: A tech company investing in research to create a new smartphone model, developing prototypes, and conducting extensive testing before launch.
The introduction stage begins when the product is launched in the market.
Notable aspects of this stage include:
Vocabulary: Market penetration - The extent to which a product is recognized and bought by customers in a particular market.
During the growth stage, sales begin to rise significantly.
Key features of this stage include:
Highlight: The growth stage is critical for establishing a strong market position and building brand loyalty.
The maturity stage represents the peak of a product's life cycle.
Characteristics of this stage include:
Quote: "The maturity stage of product life cycle is often the longest and most competitive stage, requiring businesses to differentiate their offerings to maintain market share."
When a product reaches the decline stage, businesses can implement various strategies to extend its life cycle. These extension strategies to prolong product life include:
Example: A smartphone manufacturer releasing a new model with improved features and a sleeker design to extend the product line's life cycle.
A product portfolio refers to the range of products offered by a business. Managing a diverse product portfolio can provide several benefits and challenges.
Benefits of a large product portfolio:
Definition: Product portfolio - The complete range of products offered by a company, often analyzed using tools like the Boston Matrix.
Challenges of maintaining a large product portfolio:
Highlight: The significance of maintaining a diverse product portfolio lies in its ability to spread risk and capitalize on various market opportunities, but it requires careful management to balance resources and maintain overall profitability.
The Boston Matrix is a strategic tool used to analyze and manage a company's product portfolio. It categorizes products based on their market growth rate and relative market share.
The four categories in the Boston Matrix are:
Vocabulary: Market share - The portion of a market controlled by a particular company or product.
This matrix helps businesses make strategic decisions about resource allocation and product development. Companies with limited product portfolios or products at similar life cycle stages may be at risk of having "all their eggs in one basket."
Highlight: Diversifying the product portfolio across different categories of the Boston Matrix can help businesses maintain a balanced and sustainable growth strategy.
Understanding and effectively managing the product life cycle, implementing extension strategies, and maintaining a diverse product portfolio are crucial skills for businesses aiming to succeed in competitive markets. These strategies enable companies to maximize the profitability of their products throughout their life cycles and adapt to changing market conditions.
The product life cycle is a fundamental concept in marketing that describes the stages a product goes through from its inception to its eventual decline. This model helps businesses understand and manage their products' performance over time.
Definition: The product life cycle is the progression of a product through distinct phases from development to decline, characterized by changes in sales, profits, and marketing strategies.
The typical product life cycle consists of five main stages:
Each stage presents unique challenges and opportunities for businesses, requiring different strategies to maximize profitability and market share.
Highlight: Understanding the product life cycle is crucial for businesses to make informed decisions about product development, marketing, and resource allocation.
Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.
You can download the app from Google Play Store and Apple App Store.
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
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The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
Niamh Douglas
@niamhdouglas
The product life cycle encompasses the stages a product goes through from development to decline. This concept is crucial in marketing and business strategy, helping companies manage their products effectively and maximize profitability. Product life cycle stages in marketing with... Show more
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
The development stage marks the beginning of a product's life cycle. During this phase, the product is not yet available on the market.
Key characteristics of the development stage include:
Example: A tech company investing in research to create a new smartphone model, developing prototypes, and conducting extensive testing before launch.
The introduction stage begins when the product is launched in the market.
Notable aspects of this stage include:
Vocabulary: Market penetration - The extent to which a product is recognized and bought by customers in a particular market.
During the growth stage, sales begin to rise significantly.
Key features of this stage include:
Highlight: The growth stage is critical for establishing a strong market position and building brand loyalty.
The maturity stage represents the peak of a product's life cycle.
Characteristics of this stage include:
Quote: "The maturity stage of product life cycle is often the longest and most competitive stage, requiring businesses to differentiate their offerings to maintain market share."
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
When a product reaches the decline stage, businesses can implement various strategies to extend its life cycle. These extension strategies to prolong product life include:
Example: A smartphone manufacturer releasing a new model with improved features and a sleeker design to extend the product line's life cycle.
A product portfolio refers to the range of products offered by a business. Managing a diverse product portfolio can provide several benefits and challenges.
Benefits of a large product portfolio:
Definition: Product portfolio - The complete range of products offered by a company, often analyzed using tools like the Boston Matrix.
Challenges of maintaining a large product portfolio:
Highlight: The significance of maintaining a diverse product portfolio lies in its ability to spread risk and capitalize on various market opportunities, but it requires careful management to balance resources and maintain overall profitability.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
The Boston Matrix is a strategic tool used to analyze and manage a company's product portfolio. It categorizes products based on their market growth rate and relative market share.
The four categories in the Boston Matrix are:
Vocabulary: Market share - The portion of a market controlled by a particular company or product.
This matrix helps businesses make strategic decisions about resource allocation and product development. Companies with limited product portfolios or products at similar life cycle stages may be at risk of having "all their eggs in one basket."
Highlight: Diversifying the product portfolio across different categories of the Boston Matrix can help businesses maintain a balanced and sustainable growth strategy.
Understanding and effectively managing the product life cycle, implementing extension strategies, and maintaining a diverse product portfolio are crucial skills for businesses aiming to succeed in competitive markets. These strategies enable companies to maximize the profitability of their products throughout their life cycles and adapt to changing market conditions.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
The product life cycle is a fundamental concept in marketing that describes the stages a product goes through from its inception to its eventual decline. This model helps businesses understand and manage their products' performance over time.
Definition: The product life cycle is the progression of a product through distinct phases from development to decline, characterized by changes in sales, profits, and marketing strategies.
The typical product life cycle consists of five main stages:
Each stage presents unique challenges and opportunities for businesses, requiring different strategies to maximize profitability and market share.
Highlight: Understanding the product life cycle is crucial for businesses to make informed decisions about product development, marketing, and resource allocation.
Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.
You can download the app from Google Play Store and Apple App Store.
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
Smart Tools NEW
Transform this note into: ✓ 50+ Practice Questions ✓ Interactive Flashcards ✓ Full Mock Exam ✓ Essay Outlines
App Store
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user