Phases of a product in business and finance....

Apr 14th, 2015
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Phases of a product in business and finance....

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Discussion Question:What phases does a product go through during its life cycle? Is it possible for an organization to avoid the eventual decline phase of a product or service, and if so, then how would the strategic planning process be affected?Introduction:Since, most of the companies well knows about the product life cycle phases, and that product sold by them possesses a restricted lifetime. So, they usually spend much more to make growth of their product and business. There are four exact phases of product life cycle having various things that make business development by their characteristics. The detail of these four phases is given as below;1- Introduction Phase2- Growth phase3- Maturity Phase4- Decline Phase 1- Introduction Phase: As this is the first phase of the product lifecycle, the companies need extra investments to cover up the product as most

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