How the stages of a product life cycle can actually occur on the market

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The life cycle curve discussed earlier is a theoretical approach. In practice, it may differ, for example, due to seasonal factors or successful marketing activities. Let's consider five possible scenarios.

Constant growth
Also known as "Boom". The characteristic feature of this curve is a long stay of the product in the growth stage. To maintain this scenario, companies continuously improve the physical therapist email list product, invest in advertising and develop loyalty programs. The "Boom" curve is typical for undisputed market leaders or monopolists.

Seasonal cycle
Or the "Seasonality" curve. The product experiences a rise, then a decline, but after some time it returns to growth. This scenario is typical for seasonal products and those that are losing popularity, but eventually return due to nostalgia.

Plateau
Both growth and decline occur simultaneously. The phase is characterized by a rapid rise, followed by an equally sharp fall, after which a long period of maturity begins. This type of curve is typical for products whose popularity depends on fashion or current trends. When the trend ends, sales stabilize.

New growth
Or scallop curve. The peculiarity is the resumption of sales growth at the maturity stage. This scenario is typical for products that the company regularly upgrades and improves, maintaining constant consumer interest. To pass along the scallop curve, it is important to monitor the sales dynamics: if volumes decrease, it is necessary to immediately make changes to the product, offer updates or add qualities.

Failure
This is an unfortunate development. Consumer interest in a product arises briefly, then quickly disappears. The product does not have time to reach maturity, as a decline occurs.

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Factors Affecting the Product Life Cycle
Even if a company acts correctly, sometimes demand for products still falls and, no matter how hard you try, all measures taken prove useless. In this case, the only option is to remove the product from production. The reason may be external factors beyond the control of the business and capable of seriously affecting the situation:

Too much rivalry . If a company enters a highly competitive market, overcrowded with identical offers, it is not surprising that the decline stage sets in quickly. In conditions of intense rivalry, it is difficult to maintain high demand.

Technology changes too quickly . Some products, such as gadgets, rely heavily on engineering innovations. If technology develops rapidly, a product can become obsolete in a matter of months. To remain competitive, a business has to invest in developing new processes, purchasing expensive equipment, and hiring highly qualified specialists. If the company does not have the resources to do this, this will lead to a drop in demand.

Economic and political factors also affect the life cycle of a product, slowing its development during the growth stage or accelerating its transition to decline. For example, the COVID-19 pandemic has caused the mandatory use of personal protective equipment in public places, which has led to a sharp increase in demand for masks and gloves. Previously, there was no widespread demand for these products.