Assignment task:
Product life cycle is stages of a product that goes from when it is introduced to the market to when it is removed from the market. Basically there are 4 stages which are introduction, growth, maturity and declining. A product I'm familiar with is VHS, I would say they are currently in the declining stage. Currently VHS' are not selling off the shelf, but they are still out there being sold in vintage stores. DVD's took over VHS', but DVD's too are currently in the declining stage. I have a feeling that soon VHS will be in the introduction stage soon, with the new generations coming up they are curious about the past and with VHS'. There are also some VHS' that are worth thousands of dollars that are in mint condition that some people would like to purchase for investments purposes. With vintage items it varies, it could be a big hit for a certain period of time but it could also fail quickly. The marketing of this product could fluctuate drastically due to it being an obsolete item.