Veridian Credit Union. Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by its members. The credit union offers a full range of consumer financial services and employs more than 560 Iowans throughout 26 branches. For more information, visit www.veridiancu.org or call (800) 235-3228. As Market President in the Greater Omaha and Council Bluffs area the Veridian team and I will represent the credit union at community, business and other functions to foster awareness and benefits of credit union products and services.
In the maturity stage, sales may still be increasing, but the rate of revenue growth for the product or service has begun to slow down. With each stage of the product life cycle, marketing theorists recommend different marketing strategies. The primary objective in the maturity stage is to extend that stage as long as possible.
Product Life Cycle Curve. The life cycle concept may apply to a brand or to a category of product. Its duration may be as short as a few months for a fad item or a century or more for product categories such as the gasoline-powered automobile. Product development is the incubation stage of the product life cycle. There are no sales and the firm prepares to introduce the product. As the product progresses through its life cycle, changes in the marketing mix usually are required in order to adjust to the evolving challenges and opportunities.