Product Life Cycle
Product Life Cycle is when a product has entered the market and it has began its life as a product. this consist of four different stages the birth of the product all so know as the introduction then it has to grow this is when it starts to sell and people are buying it then it starts to maturity this is when it is being sold all over the place and lots of people want to buy it because it has become a must have every where and lots of people want it because it is in high demand on the market. Then the last stage of its life when the product dies or gets decline by people because it is old and not many people want the product any more.
This is the new apple watch it has just been introduced to the market lots of people like the idea and want to get one but at the same time lots of people hate it and don't want to get one. it has just entered the introduction stage so it will take some time for the people to buy it because they want to read reviews on the product.
The iPhone 6 is an item that has reached growth so lots of people know about it but it might be a bit expensive for them so they wait for the price of it to go down a little bit so it becomes a little bit more affordable and then buy it but it is still being brought by lots of people at the same time so it is making the money it needs to make.
The iPhone 5 is a product that has reached maturity this means that lots of people are buying it even though its old lots of people buy it because it is cheap and it is still good so its sales are high and they would prefer to buy this phone over the new one just because of the price. also lots of people like it because it is the same as the old one just with a few upgrades.
The iPhone 4 is now in decline because it is still available but not many people want to buy it because it is getting old and they don't want a bad phone it is starting to die and people don't want it so with in the next 2 to 3 years no one will want it because it is so old and they will not be making the phone in factories so it will be hard to get hold of.