There are five stages that usually make up the lifecycle of a product: introduction, growth, maturity, decline, and termination.
During introduction, companies typically focus on the success of the product. Maturity is the stage when their focus is to take advantage of momentum and sell as much as possible. Only during maturity or decline do they start worrying about product end-of-life—which
strategy varies depending on product type (for example, end-of-sales is different for a computer than for a car) and on overall organizational strategy. During its decline, attempts to revitalize the product may be made, either through marketing incentives and attempts to find new markets, or by improving it and trying to combine it with other products. Depending on the industry and the market segment, companies might combine some or all of these initiatives, but it can often be more efficient to develop