New Product Development Life Cycle

Photo by Zakaria Zayane on Unsplash

Conclusion

As you can see from my example above, every new product generally has the same typical life cycle. Company will build up the hype for the new product, generate huge profits when product releases, sales peaks and start to drop, sales continue dropping as time passes, next new product is now being developed. Keeping relatively new products hitting the shelves help boost profits and generate continues influx of customers. If the company only has one product to produce, innovating on that product by releasing new models or changing up the design renews that wow factor the same old product had in the beginning.

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