Life Cycle Concepts

Product Life Cycle:

The product life cycle has 4 very clearly defined stages, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their particular products.

• Introduction
• Growth
• Maturity
• Decline

Currently, Snickers is the best chocolate in the USA. It is at the Maturity stage there.

However, in India, being a late entrant, it is still at the growth stage.

Industry Life Cycle: 

Chocolate industry is at the maturity stage overall.