Life Cycle Concept

Life Cycle Concept

Just how humans are born, grow, mature and eventually pass away, similar is the story with products.

Products also follow the same life cycle as humans and is the called Product Life Cycle.

On similar lines, Industries also follow the same trend and is called the Industry Life Cycle.

So the above representation explains it all.

There are four basic stages that all products go through which are 

1. The Introductory Stage
2. The Growth Stage
3. The Maturity Stage &
4. The Decline Stage.

(though most models also have a research phase mentioned in the beginning)

From the Table above we can clearly infer that the Iced Tea in India is still in its Introductory stage because of the following,

1)High Cost, Less Sales

2)Less Brand awareness

3)Lot of advertising & promoting campaigns

4)Less competitors.

So it still has a long way to go in terms of the life cycle to reach the maturity level, it still has to develop and differentiate itself as a product in front the Indian customers. They will have to invest in increasing their distribution channels and also to create more awareness amongst Indians