What is Introductory Stage of Product Life Cycle?
Introductory Stage:
An era of new product launch and its period depends upon product’s rate penetration by concerned market segment. This duration turns to growth period while market is well aware of product to attract wider user groups. This is a period of slow sale development as the product is introduced into market. Profits are nonexistent within this stage because of heavy expenses of product introduction restricted distribution like into this stage. This is often exclusive distribution within selective segment. Task of pricing at such stage of life cycle is to found the product in certain a way to permit more strategy to be implemented.