THE PRODUCT LIFE CYCLE- the different stages

1) First a product is developed. The p_________ is tested and

market research is carried out before the product is
l________ on to the market. There are no s________ at this
time.
2) It is then i_________ or launched into the market. Sales grow
slowly at first because most c__________ are not aware of its
existence. Informative a___________ is used until the product
becomes known. No p_______ are made as development
costs have not yet been covered.
3) Sales start to g_________ rapidly. The advertising is changed
to p________ advertising to encourage brand l_______.
Prices are reduced a little as new c___________ enter the
market and try to take some c_________. Profits start to be
made as d____________ costs are covered.
4) M_ t_ r _ t _ stage is reached. Sales now i_________ only
slowly. Competition b_______ intense and pricing strategies
are now competitive or promotional pricing. A l___ of
advertising is used to maintain s______ growth. Profits are at
their h________.
5) S______ reach saturation point and stabilize at their highest
point. Competition is h_____ but there are no n_____
competitors. Competitive pricing is used. A high and stable
advertising is used, but profits start to f______ as sales are
s_______ and prices have to be r________ to be competitive.
6) Sales of the product d________ as new products come along
or because the product has lost its a________. The product is
usually w________ from the market when sales become so
l_____ and prices have been reduced so f____ that it
becomes u _p_ o_ i_ a_ l_ to produce the product.
Advertising is reduced and then s__________.