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6 Cards in this Set

  • Front
  • Back

Introduction and Launch

Period when a product is newly released onto the market

At first sales can be slow as consumers do not recognise the benefits of a new product


Consumers see the benefits of new technology

Sales start to rise

Steady increase in profit

Competitors will release their own versions of the product with slightly different features


Sales begin to level off

Market becomes saturated with competitor designs


The market is completely saturated with competitor designs and sales start to drop off

What is planned obsolescence?

When companies produce new or improved products at short intervals choosing not to wait until current product reaches maturity or decline

They convince consumers they must have the newest product even though they don't actually need it

Why do they do this?

To maintain a steady volume of sales

To maintain a market advantage over competitors

As a result of technological advancement e.g. development in microelectronics