Life Cycle Differentiation

Every product goes through a product life cycle consisting of four stages: introduction, growth, maturity and decline.

Think about any historical product, or even your last smartphone or social media platform. There was a stage when marketing had to get your attention about its existence: Introduction. Then it seemingly overnight all the cool folk already have one and soon everyone might get one.

Then a Mature phase where sales are hot, but it's also when hipsters are questioning its validity or possible coolness. That’s a signal that popularity will soon be on the decline. Products can keep innovating and adapting to changing consumer perception, new and Improved. Or realistically price lower with waning demand. But pricing too low will look “thirsty” and might spell a faster decline.