Question
The typical product lifecycle has four stages: Introduction, Growth, Maturity, and Decline. The Introduction stage is when the product is first launched after development and testing. The Growth stage is when sales start increasing rapidly. The Maturity stage is when sales peak and then start to level off. The Decline stage is when sales start to fall, either due to market saturation or because the product is being replaced by newer products or technologies.
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Because buyer's values change over time, value migration charts plot value changes of a typical product lifecycle from introduction to mass adoption to maturation or decline. While results aren't guaranteed, it's good to use these exercises and preparations to guide your market entry strategy. (Slide 4)
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