Stages of the Product Life

Wireless phones are at the growth phase of the product life cycle. This means that the market for wireless phones is almost at its peak, and businesses are making most of their profits from their sales.

The reason for the booming sales is the lifestyle demands in developed and underdeveloped societies, which require that a person should at least have one wireless phone not only for doing business but also for catching up with friends and relatives. Changes in technology have also increased their demand, with many users preferring the internet on their phones for social networking, e.g., Twitter and other related features.

Their prices have decreased, meaning that sellers are making profits on the volume of sales and not by increasing their prices.

DVD players, on the other hand, are at the decline stage of the product life cycle. This is because technology is changing very fast, making profits reduce with the entry of USB-enabled devices like memory cards, iPads, and flash disks. This has made sellers reduce their prices and the cost of advertising.

Fast foods are on the decline. The reason for this is massive campaigns advocating for healthier living involving eating whole foods, and this means avoiding fast foods. Increased awareness on how to control lifestyle diseases like obesity, diabetes, blood pressure, heart diseases, etc., have also contributed to declining sales of fast foods.

There is enough evidence to show that wireless phones are on the verge of moving into the next stage of the product life cycle, namely, the maturity stage. This is attributed to the ability of wireless phones to be improvised so that they can perform both conventional and sophisticated purposes by merely improving on earlier models.