Life Cycle Concepts

Life Cycle Concepts

Life Cycle concepts basically indicate the stage at which the product/brand/industry is currently at. The stages are broadly classified into - 

• Research & Product Development
• Introduction
• Growth
• Maturity
• Decline

Industry Life Cycle

The concept of a product life cycle showcasing the product as a mortal with stages of life and death has often drawn a lot of criticism. For instance, there are a number of examples were the product has reversed the life
cycle stages and successfully managed to revive the brand with brilliant re-positioning and marketing strategies. It also doesn't take into consideration other factors like competition and innovation while plotting the graph. Therefore, an Industry/Brand Life cycle can give us a clearer picture.

The industry life cycle takes into consideration the entire industry including the competition, innovation, sales, profit factors etc. In this case, the Mosquito Repellent Industry. As per estimates, the mosquito repellent industry is slated to grow in the coming years owing to the increasing demand of mosquito repellents in form of mats,coils and liquid vaporizers. This puts the industry in the growth phase of the life cycle. 

However, another important thing to note is the fact that with the development of every new category, there could be a fall in the other. For instance, the development in the vaporizer category saw a dip in the mats category. In such cases, a rise in one and a fall in the other can be seen simultaneously in the life cycle graph.