forum question 103

This is a forum question between students that needs a reply to with at least 180 words. I would like for you to use your own words. If not please cite-in-text with reference

Class, You raise several good points. The product life cycle is a market analogy of human life. When shown on a chart, the life cycle is typically a bell-shaped curve as a product is introduced, grows, matures, and then declines. An organization will usually begin making a profit as the product grows and matures.

Each of the four stages present strengths and weaknesses. When an organization can enter the market with a new product early a competitive advantage is achieved. With innovation and marketing, the advantage can be maintained. Perhaps one of the most valuable aspects of examining product life cycles is that it provides historical data and allows predictions.

As you note, old products can become new again. Class, and predictions based on the life cycle of products you are familiar with?

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