A product life cycle represents the stages that a product goes through during its life. There are four stages of the life cycle: introduction, growth, maturity, and decline. As each stage in the product cycle is reached, marketers must adjust their product mix and their marketing strategies to ensure continued sales.

Key Terms:
Product life cycle
Product positioning
Category management
Planograms

*Identify the four stages of the product life cycle
*Describe product positioning techniques