19-4 Product Life Cycles Refers to demand changes for a product over time o Embryonic stage: product is not widely accepted and has minimal demand o Growth stage: many consumers seek out the product and buy it for the first time Mature stage: demand peaks since most buyers already have the product and only buy replacements o Decline stage: demand falls off perhaps since the product Is obsolete " win/MeGraw-HHill CThe McGraw-Hill Companies, Inc, 200019-4 Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Product Life Cycles ◼ Refers to demand changes for a product over time. ◆Embryonic stage: product is not widely accepted and has minimal demand. ◆Growth stage: many consumers seek out the product and buy it for the first time. ◆Mature stage: demand peaks since most buyers already have the product and only buy replacements. ◆Decline stage: demand falls off perhaps since the product is obsolete