The product goes through five basic stages in its cycle, what are the stages and the importance of studying them.

Product lifecycle stages:

The first stage: presenting and launching the product.

 The second stage: the stage of product growth.

 The third stage: the stage of maturity and prosperity.

 The fourth stage: the stage of saturation or saturation.

 The fifth stage: the stage of decline and decline.

Importance of Product Life Study:

The product holds the utmost importance to the owners of factories, companies and electronic stores. Studying the product life cycle effectively contributes to the correct handling and effective treatment of each stage or challenge the product goes through, as it is natural that the product in its stages is exposed to many obstacles and problems such as intense competition and production problems that It may be related to quality, transportation or storage with different types of products and the rise or fall of production costs according to the economic conditions accompanying the production stage Presentation and product launch stage:

The stage of launching and presenting the product and putting it on the market is one of the five most difficult stages that the product (whether goods or services) passes through during its life cycle, as it is the stage that requires more work and hard effort in addition to spending.

This stage needs to secure large budgets in order to effectively spend on marketing research conducted on the product and the competition market, product development and testing its resonance among the target audience or consumers, and other efforts made to introduce the product and put it in an effective market

Product growth stage:

The second stage that the product goes through during its life cycle is the growth stage, which is the stage in which the harvest begins, but not in a large way, as the demand for the product (a good or service) begins to increase gradually, and then its sales volume rise, and thus achieve progressively profit rates.

Maturity and flowering stage:

The product goes through its third stage of its life cycle with variables and data, as well as completely different goals from the previous two stages, which are the two stages (product introduction and growth stage); As the product reaches its third stage, which is the stage of maturity, to a large degree of prosperity and achieving a great position in the market among competitors.

It is the stage in which the owner of the product (whether a good or a service) reaches the pivotal goals set in advance, which we call business goals, which are from the beginning to increase the volume of sales and then obtain the largest possible percentage of profits. And if we call the first stage (the stage of introducing the product) the stage of cultivation, then the third stage (the stage of maturity) we can call it the stage of harvesting in which the product reaches the peak of maturity and the owner of the product reaches the peak of profits.

saturation phase

One of the most dangerous stages that the product goes through during its life cycle is the saturation stage, which is the stage in which the market reaches high degrees of saturation of the product for several reasons, including the imbalance between supply and demand, consumers search for different new products with new advantages Increasing the number of competitors and producers of the same product, and other reasons.

However, all of these factors force the product owner to reduce the price of the product in any way so that the balance between supply and demand and market stability can be re-established Decline or decay stage:

The last stage in the product life cycle after its launch, growth, maturity and saturation is the stage of decline and decline that the product eventually goes through. If the saturation stage serves as a warning bell to address the matter before deterioration, then this stage is the critical stage in the life cycle of any product.

The stage of decline and decline is that stage in which the demand for the product begins to decline and consequently, the volume of sales decreases, and thus the product shrinks significantly.

There are many reasons behind the deterioration and decline of the product at this stage; The most important of which is the saturation of the market with the product due to the availability and production of many similar and alternative products as well. Consumers seek innovation and find different advantages and characteristics in different products.