This occurrence is against the idea of product life-cycle theory.
What is the product life cycle theory?
- The four stages of a product's life cycle are typically identified as introduction, growth, maturity, and decline.
- Management and marketing experts use product life cycles to guide decisions on advertising campaigns, price points, entering new markets for their products, redesigning packaging, and more.
What Importance Does the Product Life Cycle Have?
- Because it aids in defining and deciding on methods specific to a given product, the product life cycle is significant in marketing.
- it functions as "a forecasting tool, planning tool, control tool, and estimated for profits."
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