PRODUCT LIFE CYCLE
A company which introduces a new product
naturally hopes that the product will contribute to the profits and provide
consumer satisfaction for a long period of time. This however, does not always
happen in practice. So, progressive organisations try to remain aware of what
is happening throughout the life of the product in terms of the sales and the
resultant profits.
Let us start thinking
from the very beginning about what happens when a new product is introduced in
the market.
