Product Life Cycle

Product life cycle 

Product Life Cycle

A product life cycle has four stages .Introduction, Growth, Maturity and Decline are the four stages in the product life cycle . Right now pizza hut is in the maturity stage .

Introduction –Initially when pizza hut was first started in India in 1996, it was an introductory stage . There were no players, essentially it was the only major player in the market. And it had the basic products were sold, that is the same products that were sold in US.

Growth –  In the later stages , there were new entrants in the market like dominos , papa johns and local city based entrants .There was product innovation done by pizza hut .They started more Indianised products .There was also increase in the amount spent for advertising .

Maturity – Right now it is in the early maturity stage , where there is lot of competition , rigorous advertising and product innovation is being done. The competitors are trying to enter new unexplored markets, especially the two tier and three tier cities .

Decline – This would be in the later stages when the weak competitors would leave the markets as it has become highly competitive and very less profit is earned.