Title: Examples of Product Life Cycle Phases | Small Business - Chron.com
Headings: Examples of Product Life Cycle Phases
Examples of Product Life Cycle Phases
The Introduction Phase
The Growth Phase
The Maturity Phase
The Decline Phase
Your Product Mix

Content: In the music world, for example, records and tapes gave way to CDs, which in turn were largely replaced by digital downloads, which are now facing competition from streaming services. Even the personal computer, one of the most robust and game-changing products of the last half-century, is now fading. Computer sales peaked in 2011 and have been dropping ever since, as the technology stabilized and users found few compelling reasons to upgrade. Even worse, many users – especially in emerging markets – rely on mobile devices, such as phones or tablets, as their primary digital tool. That's not to say that products in their decline phase can't still be profitable and popular, especially if you find a viable niche to exploit. Products in the mature or decline phases can also sometimes gain a temporary resurgence in market share if they're refreshed cosmetically or given updated features. Your Product Mix
If you're in the business of moving product, it's important to pay attention to how the life cycle applies to the products you sell. If most of your revenues come from products in the mature or decline phases of their life cycles, for example, you'll be hard-pressed to grow your sales in the teeth of stable or declining demand. At the other extreme, if you're too reliant on new products, the lack of an established cash cow to pay for those products' marketing and R&D could sink you. Keeping a good mix of new, refreshed and established products can help stabilize your revenues, and give you predictable growth.