The Product Life Cycle | Part IV

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Subscribe to Alanis Business Academy on YouTube for updates on the latest videos: https://www.youtube.com/alanisbusinessacademy?sub_confirmation=1 The product life cycle is a theoretical model showing the stages that products go through from creation to discontinuation. Although all products don’t go through the product life cycle the same, the model does provide a general framework for how businesses should adapt their marketing mix to the stage the product occupies in the product life cycle.

In the fourth and final video of our four part series, we’ll explore how businesses can adapt their marketing mix to accommodate products that occupy the decline stage of the product life cycle. We’ll finish up this video and series with a discussion of how a businesses knowledge of their product life cycle can help them develop a more effective product mix.