These examples illustrate these stages for particular markets in more detail. Products first go through the Introduction stage, before passing into the Growth stage. With consumers demanding a lot more from the electronic equipment they buy, typewriters are a product that is passing through the final stage of the product life cycle.
Laptop computers have been around for a number of years, but more advanced components, as well as diverse features that appeal to different segments of the market, will help to sustain this product as it passes through the Maturity stage.
With a huge investment in research and development, and high prices that will only appeal to early adopters, this is another good example of the first stage of the cycle. Introduced a number of years ago, manufacturers that make DVDs, and the equipment needed to play them, have established a strong market share.
However, they still have to deal with the challenges from other technologies that are characteristic of the Maturity Stage. Another example within the consumer electronics sector also shows the emergence and growth of new technologies, and what could be the beginning of the end for those that have been around for some time.
Next comes Maturity until eventually the product will enter the Decline stage.
But if you look at the trends in key markets over the last couple of decades, even just the last few years, consumer demand for particular products can provide some very good product life cycle examples. Typewriters, and even electronic word processors, have very limited functionality. Even though they make a conscious decision to switch from one product to another, this is more due to personal taste or simply wanting the have the latest and best, rather than an appreciation of which stage of its life cycle a product may be going through.
Product Life Cycle Examples The traditional product life cycle curve is broken up into four key stages. Only recently introduced into the market, holographic projection technology allows consumers to turn any flat surface into a touchscreen interface.Join Mark Thomas for an in-depth discussion in this video Components and phases of a service life cycle, part of Cert Prep: ITIL Foundations.
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