{"id":65677,"date":"2024-11-12T16:55:22","date_gmt":"2024-11-12T05:55:22","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=65677"},"modified":"2025-12-18T20:01:40","modified_gmt":"2025-12-18T09:01:40","slug":"product-life-cycle","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/au\/blog\/product-life-cycle\/","title":{"rendered":"The 6 Stages of the Product Life Cycle Explained"},"content":{"rendered":"\n<p>The product life cycle (PLC) tracks the trajectory of most products and consists of six stages: development, introduction, growth, maturity, saturation, and decline.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is the product life cycle?<\/strong><\/h2>\n\n\n\n<p>Before we explain the six stages, it\u2019s worth taking a moment to understand the purpose of the product life cycle (PLC). The PLC outlines how a product typically moves through the market, from its early development and launch to its ongoing growth, maturity, and eventual decline.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69dc1241098e3&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69dc1241098e3\" class=\"wp-block-image size-large wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"864\" data-attachment-id=\"68443\" data-permalink=\"https:\/\/www.salesforce.com\/au\/blog\/product-life-cycle-2\/\" data-orig-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg\" data-orig-size=\"1536,864\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"product-life-cycle\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg?w=889\" data-large-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg?w=1536\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg?w=1536\" alt=\"\" class=\"wp-image-68443\" srcset=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg 1536w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg?w=889&amp;h=500 889w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg?w=768&amp;h=432 768w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2025\/12\/product-life-cycle.jpg?w=150&amp;h=84 150w\" sizes=\"auto, (max-width: 1536px) 100vw, 1536px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<p>Growing a business would be easy if you could place a product on a supermarket shelf and watch as it generated consistent sales forever. However, as you know, it\u2019s rarely that straightforward.<\/p>\n\n\n\n<p>Products come and go. Inventions that were once the bee\u2019s knees grow outdated and get replaced by new technological advancements and hungry competitors. The same market trends and consumer preferences that made a product viral overnight can also cause its rapid decline.<\/p>\n\n\n\n<p>The product life cycle lets companies make sense of this journey. They can then use this <a href=\"\/au\/sales\/analytics\/what-is-sales-data\/\">knowledge<\/a> to make more <a href=\"\/au\/sales\/analytics\/guide\/\">informed decisions<\/a>, tailor their strategies, invest in the right areas, and decide on the next best steps.<\/p>\n\n\n\n<div class=\"layout-five wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\">See the top trends in data, AI, and more \u2014 from nearly 5,000 marketers worldwide.<\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\"><\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"wp-block-button\">\n\t\t\t\t\t<a class=\"wp-block-button__link\" target=\"_self\" href=\"\/au\/resources\/research-reports\/state-of-marketing\/?d=pb\">Get the report<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\t\n\t\t\t<!-- Standard Illustration -->\n\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__illustration\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-illustration-layout-five.png\" alt=\"\">\n\n\t\t<!-- Small Accent Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__accent\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-accent-layout-five.png\" alt=\"\">\n\t\t\n\t\t<!-- Left Side Illustration -->\n\t\t\n\t\t<!-- Cloud Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__cloud\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-cloud-layout-five.png\" alt=\"\">\n\t\t\n\t<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What are the different stages of the product life cycle?<\/strong><\/h2>\n\n\n\n<p>The product life cycle tracks the trajectory of most products and consists of <strong>six stages<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Development stage:<\/strong> At this stage, you\u2019re still building the product. It\u2019s time to plan, prototype, and gather early feedback.<\/li>\n\n\n\n<li><strong>Introduction stage: <\/strong>Your product is now live, and you&#8217;re working to get it in front of the <a href=\"\/au\/marketing\/target-audience\/\">right audience<\/a>.<\/li>\n\n\n\n<li><strong>Growth stage: <\/strong>This is where momentum kicks in. More people know about the product, sales pick up, and you\u2019re working to scale up.&nbsp;<\/li>\n\n\n\n<li><strong>Maturity stage: <\/strong>At maturity, your product is well-known, and you\u2019re focusing on staying relevant.<\/li>\n\n\n\n<li><strong>Saturation stage: <\/strong>Most people who want the product already have it, so there\u2019s little room left to grow.<\/li>\n\n\n\n<li><strong>Decline stage: <\/strong>Sales fall, demand fades, and it&#8217;s time to scale back or pivot.<\/li>\n<\/ul>\n\n\n\n<p>Understanding these stages helps you decide on the best strategy for your product at any given point in time. Now, let\u2019s break down each stage one by one, looking at key considerations, risks, and best practices.<\/p>\n\n\n\n<div class=\"layout-one wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\">Build lasting relationships that drive growth with Marketing Cloud.<\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\">Action all your data faster with unified profiles and analytics. Deploy smarter campaigns across the entire lifecycle with trusted AI. Personalise content and offers across every customer touchpoint.<\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"wp-block-button\">\n\t\t\t\t\t<a class=\"wp-block-button__link\" target=\"_self\" href=\"\/au\/form\/demo\/crm-marketing-demo\/?d=pb\">Watch demo<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\t\t\t<div class=\"wp-block-offer__graphics wp-block-offer__contour\"><\/div>\n\t\n\t\t\t<!-- Standard Illustration -->\n\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__illustration\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-illustration-layout-one.png\" alt=\"\">\n\n\t\t<!-- Small Accent Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__accent\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-accent-layout-one.png\" alt=\"\">\n\t\t\n\t\t<!-- Left Side Illustration -->\n\t\t\n\t\t<!-- Cloud Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__cloud\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-cloud-layout-one.png\" alt=\"\">\n\t\t\n\t<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>1. Development stage<\/strong><strong>: Bring your product to life<\/strong><\/h2>\n\n\n\n<p>Every product starts with an idea that needs to be fleshed out. For most modern businesses, this is the process of research and development (R&amp;D). This stage involves determining which product you want to create based on <a href=\"\/au\/marketing\/how-to-conduct-market-research\/\">market research<\/a> and your understanding of potential buyers.<\/p>\n\n\n\n<p>There are several steps involved when taking a product from ideation to being launch-ready. While it\u2019s always a unique journey for every business, it generally looks something like this.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Step<\/strong><\/td><td><strong>Description<\/strong><\/td><\/tr><tr><td>1. Identifying a potential product<\/td><td>Addressing a consumer need<\/td><\/tr><tr><td>2. Researching market trends and competitors<\/td><td>Validating the idea<\/td><\/tr><tr><td>3. Performing concept testing<\/td><td>Gathering feedback from real consumers<\/td><\/tr><tr><td>4. Developing product concepts and prototypes<\/td><td>Creating initial designs<\/td><\/tr><tr><td>5. Testing prototypes in context<\/td><td>Refining the concept based on practical testing<\/td><\/tr><tr><td>6. Iterating and improving the product<\/td><td>Creating a finished version through continuous improvement<\/td><\/tr><tr><td>7. Securing investment and planning supply chains<\/td><td>Preparing for the product launch<\/td><\/tr><tr><td>8. Releasing the product to a limited market<\/td><td>Testing the product in a controlled environment<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The R&amp;D stage can be a long, bumpy road because the steps won\u2019t necessarily be linear. Testing, refining, and iterating can take weeks, months, or even years, depending on your research and the complexity of your product.&nbsp;<\/p>\n\n\n\n<p><a href=\"\/au\/service\/contact-center\/customer-feedback\/management\/\">Customer feedback<\/a> is key during your product\u2019s development phase, but you also need to set a timeline, especially since you won\u2019t be generating revenue at this stage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-introduction-stage-launching-and-building-early-traction\"><strong>2. Introduction stage<\/strong><strong>: Launching and building early traction<\/strong><\/h2>\n\n\n\n<p>Once you have a final product, it\u2019s time to launch it in the market. This is the \u2018introduction\u2019 stage, which is characterised by low sales volume and limited product adoption. At this point, <a href=\"\/au\/blog\/what-is-marketing\/\">marketing<\/a> becomes your best friend. You need to build <a href=\"\/au\/blog\/brand-awareness\/\">brand awareness<\/a> and introduce your product to consumers.&nbsp;<\/p>\n\n\n\n<p>Your strategy will differ depending on the market. If competition is low at this stage, you should focus on getting consumers to understand your product and how it meets their needs. If you\u2019re already <a href=\"\/au\/blog\/market-penetration-guide\/\">entering a market<\/a> with established competition, you\u2019ll need to invest a lot of time in brand building or product differentiation to get consumers to switch from their existing product.&nbsp;<\/p>\n\n\n\n<p>Your goal here is to build awareness, start getting early traction, and begin building <a href=\"\/au\/resources\/articles\/what-is-customer-loyalty\/\">loyal customers<\/a>. Here are some common tactics you can use during this crucial period.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-build-excitement\"><strong>Build excitement<\/strong><\/h3>\n\n\n\n<p>During this early stage, <a href=\"\/au\/blog\/demand-generation-marketing\/\">demand doesn\u2019t come for free<\/a>. It needs to be manufactured. How long this process takes depends on your product\u2019s complexity and uniqueness, and how well it aligns with your target audience\u2019s needs.&nbsp;<\/p>\n\n\n\n<p>Craft compelling campaigns that create buzz and spark curiosity. You need to make consumers see why your product could be a solution to their problem. If you\u2019re entering an established market, you\u2019ll also need to show your consumers how your product differs from the competition.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-take-an-omnichannel-approach\"><strong>Take an omnichannel approach<\/strong><\/h3>\n\n\n\n<p>Don\u2019t limit yourself to one form of marketing. Build a website and create blogs around relevant topics. Use <a href=\"\/au\/blog\/social-media-marketing\/\">social media<\/a> and influencer marketing to reach a wider audience. Consider paid advertisements to spread the word. Pick a <a href=\"\/au\/marketing\/omni-channel-marketing\/\">variety of channels<\/a> to find your first customers, without spreading your efforts too thin.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-price-strategically\"><strong>Price strategically<\/strong><\/h3>\n\n\n\n<p>Align your pricing strategy with your product positioning and marketing efforts. Undercutting competition based on <a href=\"\/au\/blog\/what-is-competitor-anaylsis\/\">competitor analysis<\/a> could be a smart move, but if you\u2019re trying to appear as a luxury, superior product, this could send the wrong message to consumers.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-prioritise-customer-satisfaction\"><strong>Prioritise customer satisfaction<\/strong><\/h2>\n\n\n\n<p>Word-of-mouth recommendations from early adopters are gold dust at the introduction stage. Prioritise creating <a href=\"\/au\/blog\/personalised-marketing-guide\/\">personalised, engaging customer experiences<\/a> to capture this audience. The more you can show consumers that you\u2019re a trustworthy, <a href=\"\/au\/blog\/dos-and-donts-authentic-marketing\/\">authentic brand<\/a>, the more likely they\u2019ll be to recommend your product to others.&nbsp;<\/p>\n\n\n\n<p>Once you\u2019ve begun your marketing campaigns, you need to refine them. Take stock of customer feedback and sentiment, and use this to improve as you progress.&nbsp;<\/p>\n\n\n\n<p>This is the stage where most businesses falter. Few things are more filled with hazards and littered with unexpected costs than an initial product launch. Ride the wave and be prepared to reinvest your revenue. At this point, you\u2019ll succeed if you can tread water, break-even, and continually iterate until you reach the growth stage.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-life-cycle-example-at-the-introduction-stage\"><strong>Product life cycle example at the introduction stage<\/strong><\/h3>\n\n\n\n<p>Examples of products currently in the introduction phase include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Lab-grown meat products<\/li>\n\n\n\n<li>Augmented reality (AR) glasses<\/li>\n\n\n\n<li>Self-driving cars<\/li>\n\n\n\n<li>AI-driven medical diagnostics tools<\/li>\n\n\n\n<li>Brain-computer interfaces<\/li>\n\n\n\n<li>Quantum computing devices for commercial use<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-growth-stage-scaling-up-and-standing-out\"><strong><strong>3. Growth stage: Scaling up and standing out<\/strong><\/strong><\/h2>\n\n\n\n<p>Once customers have accepted the product and you\u2019ve begun to gain traction, you\u2019ve entered the growth phase. This stage is characterised by rapid sales growth and a steady increase in revenue.&nbsp;<\/p>\n\n\n\n<p>Marketing is slightly easier in this stage because customers are already familiar with your product. However, you\u2019ll need to shift goals and focus more heavily on market expansion. There are several ways you can achieve this:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Market expansion:<\/strong> Entering into new <a href=\"\/au\/marketing\/segmentation\/\">market segments<\/a> and demographics based on ongoing research.&nbsp;<\/li>\n\n\n\n<li><strong>Marketing strategy:<\/strong> Changing your growth stage marketing strategy to focus on product preference rather than product awareness.&nbsp;<\/li>\n\n\n\n<li><strong>Distribution: <\/strong>Expanding your distribution channels to expand product availability.&nbsp;<\/li>\n\n\n\n<li><strong>Retention:<\/strong> Implementing loyalty and <a href=\"\/au\/blog\/referral-marketing\/\">referral programs<\/a> to encourage <a href=\"\/au\/hub\/service\/customer-retention-strategies\/\">customer retention<\/a> and loyalty.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>You\u2019ll need to reinvest much of the profits at the early growth stage to scale up your operation. The challenge is scaling effectively without stretching your resources too thin. You\u2019re gaining momentum, but if you can\u2019t keep up with demand, your upward trajectory might not last for long.<\/p>\n\n\n\n<p>At this point, you may also start to see emerging competitors as other organisations try to take their slice of the market. As such, highlight your product\u2019s unique value proposition and stay one step ahead by iterating and improving your product design.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-life-cycle-example-at-the-growth-stage\"><strong>Product life cycle example at the growth stage<\/strong><\/h3>\n\n\n\n<p>Some examples of products currently at the growth product life cycle stage include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"\/au\/marketing\/ai\/\">AI tools<\/a> and large language models&nbsp;(LLMs)<\/li>\n\n\n\n<li>Electric vehicles<\/li>\n\n\n\n<li>Fitness trackers<\/li>\n\n\n\n<li>Smart home devices<\/li>\n\n\n\n<li>Plant-based meat<\/li>\n\n\n\n<li>E-bikes and e-scooters<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-maturity-stage-maximising-profit-and-staying-relevant\"><strong><strong>4. Maturity stage: Maximising profit and staying relevant<\/strong><\/strong><\/h2>\n\n\n\n<p>At the product maturity stage, sales have begun to level out from the growth stage; however, costs are declining, so profits remain strong. At this point, you\u2019re maximising your product and seeing the largest returns. This is the \u2018golden phase\u2019 that businesses want to maintain for as long as possible.<\/p>\n\n\n\n<p>You\u2019ll also find you\u2019re putting in more work to fend off the competition and keep your product offering fresh. The market at this stage will be growing increasingly saturated, so your priority should be introducing new product features to differentiate from your new competitors.&nbsp;<\/p>\n\n\n\n<p>There are a few approaches to take to maximise your time at the top.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-competitive-pricing\"><strong>Competitive pricing<\/strong><\/h3>\n\n\n\n<p>At this point, most businesses will have developed their manufacturing and production processes enough to achieve economies of scale. This means they can lower the price of the finished product without significantly impacting company profit margins.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-hone-in-on-your-unique-value-proposition\"><strong>Hone in on your unique value proposition<\/strong><\/h3>\n\n\n\n<p>You\u2019ll need to reiterate why your product differs from every alternative on the market.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>What makes you unique? <\/strong>Perhaps your product has better features than your competition. Maybe you create your products sustainably.&nbsp;<\/li>\n\n\n\n<li><strong>Or is it that you offer superior customer service?<\/strong> Focus on what you do best and use that to stand out.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-encourage-long-term-loyalty\"><strong>Encourage long-term loyalty<\/strong><\/h3>\n\n\n\n<p>Your customer base is already familiar with your brand. You have a dedicated fanbase, but will this loyalty last if a competitor ups their game? Prioritise nurturing your existing bonds and exceeding customer expectations through exclusive content and loyalty programs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-establish-feedback-loops\"><strong>Establish feedback loops<\/strong><\/h3>\n\n\n\n<p>It is important to develop a feedback loop between your customers and your product team. Understanding what your audience really wants will help you extend your time in the maturity stage and show your customers that you take their suggestions seriously.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-life-cycle-example-at-the-maturity-stage\"><strong>Product life cycle example at the maturity stage<\/strong><\/h3>\n\n\n\n<p>Examples of products currently at the maturity stage include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Smartphones<\/li>\n\n\n\n<li>Laptops<\/li>\n\n\n\n<li>Streaming services<\/li>\n\n\n\n<li>Online banking apps.<\/li>\n\n\n\n<li>Cloud storage services<\/li>\n\n\n\n<li>Social media platforms<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-saturation-stage-when-growth-slows-and-competition-peaks\"><strong><strong>5. Saturation stage: When growth slows and competition peaks<\/strong><\/strong><\/h2>\n\n\n\n<p>During the saturation stage, profits will truly level out as competitors begin taking their market slice. Sales aren\u2019t declining yet, but they aren\u2019t growing either. The market is so filled with options that consumers have too much choice, making it much harder for your product to continue growing.<\/p>\n\n\n\n<p>There are two possible outcomes during this stage. The first is that your product eventually enters a market decline. The second is that you become consumers&#8217; brand preference and revitalise interest.&nbsp;<\/p>\n\n\n\n<p>The good news at the market saturation stage is that your business efficiency has reached its apex, and you have more <a href=\"\/au\/data\/data-analytics\/\">data<\/a> than ever before. You should use this to decide on the best way forward. You could decide on one or more of these approaches.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-continue-to-iterate-on-your-product\"><strong><strong>Continue to iterate on your product<\/strong><\/strong><\/h3>\n\n\n\n<p>Try to breathe new life into your product. Create a new version with added features, or offer new deals to add value to your offering. For instance, an extended warranty, a complementary service, or an exclusive community can all set you apart from the competition. At this stage, you can usually afford to offer more value than your newer competitors. Leverage this to remain at the top for longer.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-be-novel-with-your-marketing\"><strong>Be novel with your marketing<\/strong><\/h3>\n\n\n\n<p>One of the most effective ways to maintain your product longevity is to be unique and innovative with your marketing. Spark curiosity with your messaging, tell stories, or try out a <a href=\"\/au\/blog\/guerrilla-marketing\/\">guerrilla marketing<\/a> tactic. You can also build a connection with your audience through <a href=\"\/au\/blog\/social-media-marketing\/\">social media<\/a> with humorous content and authentic interactions.<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-explore-new-r-amp-d-opportunities\"><strong>Explore new R&amp;D opportunities<\/strong><\/h3>\n\n\n\n<p>Consider investing in product line extensions. Consider complementary products and accessories. Diversifying your brand will add value to your portfolio and even extend the product life cycle.&nbsp;<\/p>\n\n\n\n<p>In an ideal world, you\u2019d love to produce a superior product to your competitors forever more, but this becomes much harder in the saturation stage. To counteract this, focus on building emotional connections with consumers through exceptional service, consistency, and reliability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-life-cycle-example-at-the-saturation-stage\"><strong>Product life cycle example at the saturation stage<\/strong><\/h3>\n\n\n\n<p>Examples of products currently at the saturation stage include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gas-powered cars<\/li>\n\n\n\n<li>Digital cameras<\/li>\n\n\n\n<li>Soft drinks<\/li>\n\n\n\n<li>Breakfast cereals<\/li>\n\n\n\n<li>Cable TV<\/li>\n\n\n\n<li>Bottled water<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-6-decline-stage-knowing-when-to-pivot-or-retire\"><strong><strong>6. Decline stage: Knowing when to pivot or retire<\/strong><\/strong><\/h2>\n\n\n\n<p>No product lasts forever. The decline stages involve a decrease in sales and a reduction in profits. This can happen for several reasons:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A new, high-tech invention replaces an outdated product. Think about mobile phones replacing the pager.&nbsp;<\/li>\n\n\n\n<li>Changes in tastes, lifestyle habits, and consumer preferences.<\/li>\n\n\n\n<li>Economic forces, such as recessions or inflation.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Usually, brands will either decide to invest in rejuvenating the product or pull the plug and discontinue it. Some businesses can sit in the declining phase for years, with several long plateaus along the way. However, it\u2019s important to regularly reassess to determine if holding strong is the best course of action.&nbsp;<\/p>\n\n\n\n<p>Let\u2019s elaborate on the different strategies available to you at this stage:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Relying on your brand:<\/strong> If you have a strong brand, you can use innovative marketing strategies to pull yourself out of your decline.&nbsp;<\/li>\n\n\n\n<li><strong>Revitalisation: <\/strong>It\u2019s never too late to expand into a new market or invest in a newer version of a product.&nbsp;<\/li>\n\n\n\n<li><strong>Discontinuation: <\/strong>Once the marketing and production costs outweigh the potential for revenue, it may be beneficial to discontinue the product and invest in other areas.<\/li>\n<\/ul>\n\n\n\n<p>Revitalisation is always possible, but it is rarely a long-term fix. Every product eventually declines to the point where it isn\u2019t worth marketing, and at that point, it will reach the end of its life cycle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-life-cycle-example-at-the-decline-stage\"><strong>Product life cycle example at the decline stage<\/strong><\/h3>\n\n\n\n<p>Examples of goods at the decline stage of the product life cycle include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>DVD players<\/li>\n\n\n\n<li>Flip phones<\/li>\n\n\n\n<li>Desktop computers<\/li>\n\n\n\n<li>Landline phones<\/li>\n\n\n\n<li>Physical newspapers<\/li>\n\n\n\n<li>Standalone alarm clocks<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-importance-of-using-the-product-life-cycle\"><strong><strong>The importance of using the product life cycle<\/strong><\/strong><\/h2>\n\n\n\n<p>When used correctly, the product life cycle offers a wealth of benefits.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-improved-decision-making\"><strong>1. Improved decision-making<\/strong><\/h3>\n\n\n\n<p>The product life cycle can help you determine the best strategies for each stage. It offers a guideline that helps businesses decide at the right time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-enhanced-planning\"><strong>2. Enhanced planning<\/strong><\/h3>\n\n\n\n<p>The product life cycle allows businesses to \u2018beat the curve\u2019 proactively rather than respond to market changes. If a company knows its primary market will soon become saturated, it can use this to stay one step ahead.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-optimised-resource-allocation\"><strong>3. Optimised resource allocation<\/strong><\/h3>\n\n\n\n<p>This also allows for better resource allocation. Companies can push and pull investment in different areas, like marketing, sales, and R&amp;D, based on the stage of the product life cycle that they\u2019re in.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-maximising-profitability\"><strong>4. Maximising profitability<\/strong><\/h3>\n\n\n\n<p>Ultimately, the product life cycle allows companies to optimise product management at every stage. It ensures companies capitalise on their most profitable opportunities and discontinue products before costs exceed revenue.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>5. Product management<\/strong><\/h3>\n\n\n\n<p>The product life cycle helps product teams make better calls at every stage, including what to launch, improve, or retire. It brings clarity to which products need attention so teams can prioritise the work that moves the needle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>6. Driving innovation<\/strong><\/h3>\n\n\n\n<p>If a product is reaching maturity or saturation, it signals that customer interest may be slowing. That\u2019s the time to improve existing features, explore new use cases, or start developing the next product to meet future demand. It keeps teams thinking ahead, not just reacting.<\/p>\n\n\n\n<div class=\"layout-one wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\">Stay up to date on all things marketing.<\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\">Sign up for our newsletter to get the latest research, industry insights, and product news delivered straight to your inbox.<\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"wp-block-button\">\n\t\t\t\t\t<a class=\"wp-block-button__link\" target=\"_self\" href=\"\/au\/form\/other\/blog-newsletter\/?d=pb\">Sign up now<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\t\t\t<div class=\"wp-block-offer__graphics wp-block-offer__contour\"><\/div>\n\t\n\t\t\t<!-- Standard Illustration -->\n\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__illustration\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-illustration-layout-one.png\" alt=\"\">\n\n\t\t<!-- Small Accent Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__accent\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-accent-layout-one.png\" alt=\"\">\n\t\t\n\t\t<!-- Left Side Illustration -->\n\t\t\n\t\t<!-- Cloud Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__cloud\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-cloud-layout-one.png\" alt=\"\">\n\t\t\n\t<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-drawbacks-of-using-the-product-life-cycle\"><strong>Drawbacks of using the product life cycle<\/strong><\/h2>\n\n\n\n<p>However, it isn\u2019t a perfect system. There are also several limitations to consider.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-limited-applicability\"><strong>1. Limited applicability<\/strong><\/h3>\n\n\n\n<p>The product life cycle only applies to products. It doesn\u2019t usually have a use case for brands and services. For instance, Amazon has released dozens of products \u2014 some are mature, some are new, and some have declined. But this doesn\u2019t mean that Amazon is in one stage or another.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-risk-of-planned-obsolescence\"><strong>2. Risk of planned obsolescence<\/strong><\/h3>\n\n\n\n<p>The product life cycle is a static model with planned strategies for each stage, and it can be self-fulfilling. If a business believes it\u2019s entering a decline, it may invest more resources into other areas, such as accessories and complementary products. But if the decline was simply a temporary dip, it may be investing in the wrong areas.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-an-inconsistent-model\"><strong>3. An inconsistent model<\/strong><\/h3>\n\n\n\n<p>The reality is that many businesses don\u2019t experience the product life cycle. <a href=\"https:\/\/lawpath.com.au\/blog\/small-businesses-statistics#:~:text=60%25%20of%20businesses%20in%20Australia,assist%20in%20minimising%20financial%20detriments.\" target=\"_blank\" rel=\" noopener\">Around 60% will fail within their first three years<\/a> of operation. This means many companies won\u2019t experience the full benefits the system offers.&nbsp;<\/p>\n\n\n\n<p>The product life cycle has many advantages but also a few drawbacks, so it\u2019s important to combine product life cycle management with thorough market research and customer feedback to ensure the right approach in every context.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-australian-produce-life-cycle-example-afterpay\"><strong>Australian produce life cycle example: Afterpay<\/strong><\/h2>\n\n\n\n<p>Australian fintech company Afterpay has had an exciting, rapid product life cycle. Let\u2019s examine how the company has evolved and iterated over the last decade.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69dc12410ef3d&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69dc12410ef3d\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1356\" height=\"687\" data-attachment-id=\"65901\" data-permalink=\"https:\/\/www.salesforce.com\/au\/blog\/what-is-the-product-life-cycle-afterpay-homepage\/\" data-orig-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png\" data-orig-size=\"1356,687\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"what-is-the-product-life-cycle-afterpay-homepage\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png?w=987\" data-large-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png?w=1356\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png?strip=all&#038;quality=95\" alt=\"\" class=\"wp-image-65901\" srcset=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png 1356w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png?w=987&amp;h=500 987w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png?w=768&amp;h=389 768w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage.png?w=150&amp;h=76 150w\" sizes=\"auto, (max-width: 1356px) 100vw, 1356px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\"><em>Image source: <\/em><a href=\"https:\/\/www.afterpay.com\/en-AU\" target=\"_blank\" rel=\" noopener\"><em>Afterpay<\/em><\/a><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-introduction-stage\"><strong>Introduction stage<\/strong><\/h3>\n\n\n\n<p>Afterpay launched in 2024 as a \u201cbuy now, pay later\u201d solution. The brand targeted millennial consumers who were wary of the interest rates and hidden T&amp;Cs of traditional credit cards.&nbsp;<\/p>\n\n\n\n<p>The initial business model was a huge success, largely because it charged the retailer a percentage fee rather than the consumer. This \u2018no interest\u2019 model allowed the company to enter the market growth stage quickly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-growth-stage\"><strong>Growth stage<\/strong><\/h3>\n\n\n\n<p>Afterpay continued to grow rapidly with little competition in Australia. In 2018, the company reinvested this revenue to expand into New Zealand and the US. It also launched partnerships with several major retailers to continue its growth trajectory.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69dc12411056a&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69dc12411056a\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1357\" height=\"510\" data-attachment-id=\"65902\" data-permalink=\"https:\/\/www.salesforce.com\/au\/blog\/what-is-the-product-life-cycle-afterpay-homepage-2\/\" data-orig-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png\" data-orig-size=\"1357,510\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"what-is-the-product-life-cycle-afterpay-homepage-2\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png?w=1330\" data-large-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png?w=1357\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png?strip=all&#038;quality=95\" alt=\"\" class=\"wp-image-65902\" srcset=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png 1357w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png?w=1330&amp;h=500 1330w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png?w=768&amp;h=289 768w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-homepage-2.png?w=150&amp;h=56 150w\" sizes=\"auto, (max-width: 1357px) 100vw, 1357px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\"><em>Image source: <\/em><a href=\"https:\/\/www.afterpay.com\/en-AU\" target=\"_blank\" rel=\" noopener\"><em>Afterpay<\/em><\/a><\/figcaption><\/figure>\n\n\n\n<p>At this stage, Afterpay had little need to diversify its products because its initial business model was so effective. If they\u2019d experienced more intense direct competition, they would have to consider a different approach, but their market authority allowed them to prioritise expansion.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-maturity-stage\"><strong>Maturity stage<\/strong><\/h3>\n\n\n\n<p>Afterpay has firmly entered market maturation. The brand was <a href=\"https:\/\/www.ft.com\/content\/9bc49035-87f8-440e-9c20-5af34d40d4ad\">acquired by Square<\/a> in 2021, and while this $29 billion deal cemented its position in the global market, it also symbolised stabilisation.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69dc124111458&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69dc124111458\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1373\" height=\"709\" data-attachment-id=\"65904\" data-permalink=\"https:\/\/www.salesforce.com\/au\/blog\/what-is-the-product-life-cycle-afterpay-referral-program-2\/\" data-orig-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png\" data-orig-size=\"1373,709\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"what-is-the-product-life-cycle-afterpay-referral-program\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png?w=968\" data-large-file=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png?w=1373\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png?strip=all&#038;quality=95\" alt=\"\" class=\"wp-image-65904\" srcset=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png 1373w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png?w=968&amp;h=500 968w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png?w=768&amp;h=397 768w, https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2024\/11\/what-is-the-product-life-cycle-afterpay-referral-program_50752a.png?w=150&amp;h=77 150w\" sizes=\"auto, (max-width: 1373px) 100vw, 1373px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\"><em>Image source: <\/em><a href=\"https:\/\/www.afterpay.com\/en-AU\/refer\" target=\"_blank\" rel=\" noopener\"><em>Afterpay<\/em><\/a><\/figcaption><\/figure>\n\n\n\n<p>The looming threat of competitors like Klarna and Affirm means Afterpay\u2019s position isn\u2019t as stable as it was. The app has transitioned into more of an all-around banking solution, meaning many consumers are worried the initial appeal of the business model will be lost.<\/p>\n\n\n\n<p>Afterpay shows how a disruptive product can scale and expand rapidly. However, this case study shows that this doesn\u2019t last, and smart diversification and strategic partnerships will always be necessary to ensure stable growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-summing-up\"><strong>Summing up<\/strong><\/h2>\n\n\n\n<p>Charting your product\u2019s life cycle from development and introduction to saturation and decline will help you decide on the right product life cycle strategy at the right time, but it won\u2019t provide you with the complete picture.&nbsp;<\/p>\n\n\n\n<p>You also need to understand how to market your products and how to guide consumers from brand awareness to customer loyalty. Ultimately, that will be the key to growing your business and maximising your product\u2019s time in the sun.&nbsp;<\/p>\n\n\n\n<p><a href=\"\/au\/marketing\/\">Salesforce Marketing Cloud<\/a> can help you deploy smart, tailored campaigns across the entire product life cycle. With our platform, you can personalise content for your audience with unified data that lets you make informed business decisions.&nbsp;<br><a href=\"\/au\/form\/demo\/crm-marketing-demo\/?d=pb\">Watch the Marketing Cloud Demo<\/a> today to learn how Salesforce can catapult your product\u2019s growth and maximise your ROI.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From development through decline, understand the six stages of the product life cycle so your business can make more informed decisions and invest wisely.<\/p>\n","protected":false},"author":32,"featured_media":65678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sf_justforyou_enable_alt":true,"optimizely_content_id":"6943c2ae98fd70e8e42c4210","post_meta_title":"","ai_synopsis":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"sf_topic":[2578,2468,2455,2456,2517],"sf_content_type":[],"coauthors":[2454],"class_list":["post-65677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","sf_topic-digital-marketing","sf_topic-sales","sf_topic-marketing","sf_topic-marketing-cloud","sf_topic-customer-journey"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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