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Product Life Cycle

The product life cycle is basically all the stages that a product passes through, from the original idea, right the way to the decline of the product.

The first stage of the product life cycle is research and development, where ideas are put forward and researched, leading to a prototype of the product.

Once the product has been developed into the finished article, it is then introduced to the market. In this stage of the product life cycle the branding of the product is decided and the copyright and other product protection schemes are obtained. In the introduction stage the pricing strategy is decided on, which is usually either a low price to obtain a high market share, or a high price to recover development costs. In this stage while the product has yet to develop its reputation, distribution channels are limited. Generally in this stage sales are low, there is little growth and marketing costs are high to try and establish the product. An Adidas product currently in this section is the Adidas F50, as it has been recently released and yet to establish itself, also the marketing for this product is very high at the moment, which is another characteristic of this stage.

Now the product has been introduced to the market, it enters the growth stage, as suggested by the name it is where the market share of the product increases and starts to stabilise. In this section the marketing starts to build the products brand and sales rise quickly, therefore increasing profits. The Adidas Predator Pulse football boots are currently in this section as they are relatively new and are becoming established within the market, as the sales of this particular football boot are rapidly increasing.

If products survive the previous stages, they tend to spend the longest in the maturation stage. In this section firms try to differentiate their products

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