What is product life cycle example?

Answer 1

A clear example of the product life cycle (PLC) in action is Apple’s iPhone, which vividly illustrates the four classic stages introduction, growth, maturity, and decline with strategic moves at each phase that companies can emulate. Introduced in June 2007, the iPhone shattered expectations and sold around 1.4 million units that year, ushering it into the introduction stage where awareness and demand were carefully built through significant marketing investment.t quickly entered the growth stage (2008–2014), as Apple expanded its lineup 3G, 4S, and beyond harnessing economies of scale, widening distribution, and attracting a growing market share.Along the way, Apple employed classic PLC strategies: from “price skimming” at launch to feature upgrades, product line extensions (e.g., larger screens, Pro versions), international market expansion, and ecosystem differentiation to sustain profits. When decline became inevitable, Apple even self‑cannibalized the iPhone by pivoting customers to newer products like the Apple Watch and iPad, ensuring the company stayed ahead rather than clinging to a fading core . This lifecycle from disruptive debut to strategic sunset offers a powerful real-world case study in how managing product stages thoughtfully can maximize value, prolong market relevance, and guide the eventual transition to the next innovation.

Answer 2

The product life cycle refers to the stages a product goes through from its introduction to its decline. For example, consider the smartphone: it starts with development and introduction, gaining popularity as features improve and competition increases. Eventually, it reaches maturity as market saturation occurs, followed by a decline as newer technologies emerge, leading to decreased sales. Each stage requires different marketing strategies to maximize the product's success.