The conversation between human and AI assistant.
What are the stages of product life cycle?
Can you explain each stage in more detail?
Of course. During the introduction stage, the product is launched into the market and sales typically start out slow. In the growth stage, sales begin to increase rapidly as awareness of the product grows. In the maturity stage, sales eventually level off and may even start to decline as the product reaches saturation in the market. Finally, in the decline stage, the product's sales decline as newer and more innovative products emerge in the market.