Question

Question, at which stage of the above process is a new product most likely to fail?

Product Life Cycle:

- Product Life cycle means like human life product also have different stages in its life where its gets introduced to world then it grows, gets mature and in last stage come to decline stage where product demand gets lower.

There are four stage in product life cycle

Introduction, growth, maturity, decline.

- Introduction: In this stage product is marketed and introduced to the world, company spends lots of money to make product get introduced to customer, different advertisement and promotion done for product.

- Growth: In this stage marketing is at its peak for product since product is established and producer want maximum revenue from the product.

- Maturity: The marketing in this stage is reduced as product has given the as much as profit to company, its recognized product in market and thus producer dont need to do more marketing for the product.

Decline: This stage is death stage of product where product sales deeps and marketers reintroduce product with new packing and new branding strategy. Whole appearance gets change in this stage by marketers.

Answer 1

answer-

I think a new product is most likely to fail at introduction stage because When a product enters the life cycle, it faces many obstacles. Although competition may be light, the introductory stage usually features frequent product modifications, limited distribution, and heavy promotion. The failure rate is high. Production and marketing costs are also high, and sales volume is low. Hence, profits are usually small or negative.