Studied by 0 peopleproduct life cycle
it lets a designer design a product with obsolescence, when a product is no longer useful, in mind.
It can help eliminate the effect of a product on the environment when it is no longer being used
life cycle of a product stage 1 “introduction/ launch of new product”
only innovators know about the product
low sales
little or no competition
lots of marketing and advertising
life cycle of a product stage 2 “growth”
adopters start to use it
sales and profits start to grow
company still has a monopoly (only you make the product)
competitors later introduce products, which decreases profit
life cycle of a product stage 3 “maturity”
many competitors are competing for customers
make product different to attract customers
marketplace will be saturated with many models
only efficient companies get through this phase
profit margins are now low, only a few companies enter the market (not the time to enter with a new product)
life cycle of a product stage 4 “decline”
sales and profit drop sharply
the public no longer wants the product
number of models reduced
a new or advanced model may enter the market.
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