Discussion DB 4

Every product in the market undergoes four stages of Product life cycle (PLC), which involves the introduction stage, the development stage, the maturity stage, and finally the decline stage (Pride, Hughes Kapoor, 2009, p. 366). Statistics show that three products in the market have recently reached the decline stage, and subsequently the situation adversely affected many related firms in the market. At this juncture, it seems that we are in need of taking rapid actions in order to keep our products updated in the market. Given below are the three products for which the consumer demand has been found decreasing for the recent years.