Marketing MBA BBA

Introduction stage of product life cycle

IT chymes .
@ | Posted 21 Sep. 2017

In this stage the product is new and distinctive. Here, a new product means “a product that opens upon entirely new market, replaces an existing product or significantly broadens the market for an existing product. This stage is characterised by:

  • slow rise in sales and profit margins
  • limited competition
  • high income group buyers (innovators)
  • frequent product modifications
  • high production and marketing costs
  • narrow product line
  • high prices
  • limited distribution and primary demand cultivation.