Stages of Product Life Cycle:
1. Development Stage: A time of no sales revenue, negative cash flow, and high risk.
2. Introduction Stage: A time of rising customer awareness, extensive marketing expenditures, and rapidly increasing sales revenue.
3. Growth Stage: A time of rapidly increasing sales revenue, rising profits, market expansion, and increasing numbers of competitors.
4. Maturity Stage: A time of sales and profit plateaus, a shift from customer acquisition to customer retention, and strategies aimed at holding or stealing market share.
5. Decline Stage: A time of persistent sales and profit decreases, attempts to postpone the decline, or strategies aimed at harvesting or divesting the product