What is the introduction stage of a product?

Products, like people, are born and perish in a predictable cycle. The introduction stage is a product’s infancy.

What happens during the product development stage?

During the product development stage, profits are generally zero or negative and the sales volume is too low. This changes in the growth stage where the output rises and the cost of unit production decreases. During the introduction stage of the product life cycle, it’s common to encounter financial damage.

What is the growth stage of a product?

The growth stage is when a product grows into a scrappy tween. As more and more users interact with it, it goes through myriad changes as the product team adds, removes, and changes features according to the preferences of the user base. Ultimately, however, the focus of this stage is to acquire and retain as many users as possible.