What are the phases of a product life cycle?

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Thanks to this fundamental tool, the company is able to know the commercial attractiveness that exists around the said product, which optimizes its longevity. The marketing of a mature product is the guarantee for the company to maximize its chances, attract new customers in its catchment area.

Properly managing the product life cycle also allows the company to adapt canadian cto cio email list marketing messages to the target population. By taking into account the maturity of the product, the manager can define the different characteristics, the cost and the promotion and distribution channels that are needed. Better still, he can to a certain degree anticipate market contingencies and seize the best investment and profit opportunities.

In addition, the company that masters this tool well has the means to properly manage the market's new needs. It is an excellent solution to improve the company's reputation and customer loyalty. In short, the organization that has good management of the life cycle of its assets will see its turnover increase exponentially.