Marketing Management, 16th Edition

Product Life Cycle Marketing Strategies

The concept of product life cycle is one of the most influential theories on managing growth. The core idea here is that products go through different stages over time, and that at each stage they face different challenges and opportunities, requiring different marketing strategies and tactics. The key principles of the concept of a product life cycle, the specifics of each life cycle stage, and the alternative product life cycle patterns are discussed in the following sections.

The Concept of a Product Life Cycle

A company’s positioning and differentiation strategy must change as its product, market, and competitors change over the product life cycle. The concept of product life cycle is based on four ...