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.
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 ...