Produktlebenszyklus
The product lifecycle describes the different phases a product goes through from its market launch to its withdrawal from the market. It serves as a model to analyze and manage sales, profit, and marketing strategies over time.
Traditionally, the product lifecycle is divided into five phases:
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Introduction – high marketing costs, low sales, the goal is to raise awareness.
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Growth – increasing demand, growing market share, rising profits.
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Maturity – sales reach their peak, competitive pressure increases.
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Saturation – sales stagnate, prices and margins decline.
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Decline – demand collapses, the product disappears or gets replaced.
An example: A smartphone model launches with a major advertising campaign, achieves rapidly increasing sales after a few months, peaks in its third year, and is eventually replaced by a newer version.
The advantage of analyzing the product lifecycle lies in strategic planning. Companies can allocate marketing budgets more effectively, better time product innovations, and determine the optimal moment for relaunches or delistings.
For successful product and brand management, the product lifecycle is a key tool. It helps identify market opportunities early, expand competitive advantages, and secure long-term business success.