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What are the five stages of Google’s Product Life Cycle?
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1. Introduction: This involves a company launching the product which includes research and development, market testing and release of the product.
2. Growth: At this stage, the product starts becoming popular and begins to gain momentum through branding, marketing campaigns, and increasing sales.
3. Maturity: At this stage, the product has reached its maximum potential and sales are at their peak. Company activities now focus on keeping the current customers and competing with similar products.
4. Saturation: This stage is characterized by decreasing earnings and increased competition.
5. Decline: This is the last stage of the product life cycle, where the sales start to decline due to lack of demand and the introduction of better and newer products.