Question

Explain the maturity stage in the industry life cycle. What happens in this stage? What types of industries are currently in this stage? Please give an example.

Answer 1

Every business has its growth in stages. The lifecycle model is not a phenomenon but a part of the business like any growth of humans or animals. The business is conceived which then grows like any human in stages of growth to reach its maturity. The maturity may last long or die off in different lifecycle stages. Stages for it are introduction, growth, maturity, and decline. This suggests that maturity means the business has no market or ways left to expand anymore.

In this state of maturity, the business tries to keep up its business maturity stages since the decline for any and every product is evident. The industries that have been all across the globe like Coca-Cola, the largest brand of beverage across the globe has reached its maturity so the business is diversifying to let the maturity last longer before if declines. The profits of the previous period are thus used by Coca Cola to prolong the maturity phase with new brands for diversification along with other product lines.