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Growth: If a new product is introduced successfully, then it will attract more customers and sales will begin to grow. Competitors will see that the product offers profit and try to enter the market with their own brand
The Lifecycle
Theyre not directly related but they both describe lifecycles of businesses or products.
Conclusion
Now you should know What a product life cycle is What the BCG Matrix is The 4 stages of a product life cycle How the BCG matrix works How the Product life cycle graph works How the life cycle effects the BCG Matrix
Activity
Find a product that has gone through the product life cycle and describe the stages it went through
Activity
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