Seminárna práca: The product life cycle

All products and services have certain life cycles.The life cycle refers to the period from the product´s frist launch into the market until its final withdrawal and it is split up in phases. During this period significant changes are made in the way that the product is behaving into the market. Since an increase in profits is the major goal of a company that introduces a product into a market.The understanding of a product´s life cycle, can help a company to understand and realize when it is a time to introduce and withdraw a product form a market, its position in the market compared to competitors, and the product´s success or failure.