<ul><li>Introduction: This is the launch phase. Your product is brand new, and awareness is low. Your primary focus here is building that awareness and generating initial demand.</li><li>Growth: The product is gaining traction! Sales are increasing, awareness is spreading, and competition is starting to emerge.</li><li>Maturity: The market is saturated. Sales growth slows down, and competition is fierce. Your focus shifts towards maintaining market share and maximizing profitability.</li><li>Decline: Sales are declining, and the product is losing popularity. You need to decide whether to revitalize the product, harvest its remaining value, or discontinue it.</li></ul>

Navigating the Product Lifecycle

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