HubSpot Features Six Stages of the Product Life Cycle
The product life cycle refers to the six stages a product goes through during its existence, starting from development all the way to decline.
HubSpot contributor Rebecca Riserbato has published an article featuring
She says, “In the marketing industry, the typical depiction of the product life cycle only has four main stages — Introduction, Growth, Maturity, and Decline. At HubSpot, we agree that these are vital for a product, but the two stages “Development” and “Decline” aren’t nearly covered enough.
As marketers, it’s important to understand how your tactics and strategies change depending on the stage your product is in. Let’s break down each of the six stages of the product life cycle.
Breaking Down the Product Life Cycle Theory
In the late ‘60s, Harvard Business School professor Raymond Vernon developed this marketing theory in response to an economic model that failed to account for trends present in international trade – that’s why it was originally called the international product life cycle theory.”
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