what is the product life cycle and why is it important?
Then the cycle begins again. At every stage in a product's life cycle, the marketer will be concerned about choices related to generating awareness, preference, demand and, ultimately, a purchase decision.
Sometimes a pre-launch Development phase is also included, but as the main application of the idea of the product lifecycle is to guide the type of marketing used, we'll not consider it here. During the earlier parts of the product lifecycle, the cost of promoting the product may be larger than the revenue it brings in.