In Which of the following Stages of Product Life Cycle is Advertising a Necessity?
The Product life cycle has four very clearly defined stages Introduction, Growth, Maturity and Decline stages. sales may be slow as the company builds awareness of its product among potential customers. Advertising is crucial at this stage. During the introduction stage, the product is promoted to create awareness and develop a market for the product.
A new product passes through different stages such as
- Development or Production Stage
- Introduction stage
- Growth Stage
- Maturity Stage
- Decline Stage