Product life cycle (2)

Yesterday we were talking and setting examples of different stages of product's lifetime in an introductory and growth phase, and today we will talk about maturity and decline stages.

• Smartphones are in a maturity phase as they are vastly extended in the market. Companies are stressing differences and advantages of their own brand compare to others that offer the same product. Another important thing is to diversify the brand by creating models. Also they try to encourage the switching to their brand making their product more desirable by low prices or high quality.
  
   
• In a decline stage we can find products such as newspapers. The papers are something that for good or bad is destined to disappear. With the arrival of the digital era the information is much more accessible and normally free. Nowadays newspapers are cutting their price and providing innovating options such as a digital newspaper that you can access from any digital device. But these is just a way of keeping the companies running. Digital newspaper are a brand new product that is just in an introductory phase and we don't know yet how it's life is going to be.
  

The product life cycle defines the lifetime of products, and each and every of them go through these four stages. There is just one difference, each product goes through the stages at its own pace, defined by how good it is welcomed in the market and its lifetime.