Question

Question: Describe 6 products that you have experienced and describe what stage the product was in. I'll go first as an example. Vinyl Records/decline or niche, 8 track, cassettes decline-CD's decline or niche-I-Tunes; growth. Typewriters that were Manuel, decline electric typewriter's, decline or niche word processors maturity; Beepers decline; Black & White Television decline-color-high definition growth?

Again what products did you experience in your lifetime that fit into one of the stages of the Product Life Cycle?

Answer 1

The product life cycle refers to the life cycle of a product from when it first enters the market to when it is discontinued or removed from the market. The stages in a product life cycle are introduction, growth, maturity, and decline.

The six products I have experienced are:-

Wearables - these are little devices that the user can wear on their body such as watches, trackers, etc. This helps them in monitoring their fitness, answering calls and even sending emails. They are in the growth stage of their life cycle. consumers are aware of the product and are increasingly buying them.

Instant pot- Instant pots are in the growth stage of the life cycle. Through positive word-of-mouth, more consumers are buying and using the instant pot replacing their old pressure cookers and cooking equipment.

Tablet computer - The gadgets used to be the most famous hybrid of laptops and phones. However, with the increasing screen size and processing power of phones, tablets have entered the maturity stage in their life cycle.

Cable receiver - The products are in the decline stage of their life cycle as more and more consumers have started using smart TVs which helps them in bringing down their cable bills and allows them to watch movies and shows at minimal costs.

Ipod - The little music player was one of the most famous products of Apple but it is on the decline stage of its life cycle after the phones started performing all the functions of a dedicated music player.

Landline telephone - With the easy availability of the internet and mobile networks, people have shifted to using mobile phones for their daily communication needs which has made landline telephones enter their decline stages in the life cycle.