Please provide examples of how to describe the pace at which my product(McDonalds, and debit transactions)will move through the product life cycle and the factors that will impact the movement.
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Most product life cycle curves are portrayed as bell shaped. This curve is typically divided into four stages: introduction, growth, maturity and decline.
<br>Introduction: A period of slow sales growth as the product is introduced in the market. Profits are non existent because of the heavy expenses incurred with product introduction.
<br>Growth: A period of rapid market acceptance and substantial profit improvement.
<br>Maturity: A period of a slowdown in sales growth becuse the product has achieved acceptance b most potential buyers. Profits stabilize pr decline because of increased competition.
<br>Decline: The period when sales show a downward drift and profits erode.
<br>Three special categories of product life cycles should be distinguished - styles, fashions and fads. A style is a basic and distinctive mode of expression appearing in a field of human endeavor. Styles appear in homes, clothing and art. A style can last for generations, and go in and out of vogue. A fashion is a currently accepted or popular style in a given fiel. Fashions pass through four stages, distinctivenenss, emulation, mass fashion and ...