A. Explain the product life cycle using an example of a luxry fashion item
B. Explain the product life cycle using an example of fast fashion item
Talking about the product life cycle then, it is the phases that every product goes into after product cane into existence. There are four phases of product life cycle that the business undergoes.
For luxury fashion item, the introduction phase is when the product came into existence. With the increase in sales volume,products came into growth cycle. When the products gains maximum share and no more growth there in the market then, it is the the maturity stage. When sales decline starts and customers did not much interested in the products then, it is the decline phase that the customers faces.
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