Problem
The product life cycle consists of four stages, as follows:
• Introduction
• Growth
• Maturity
• Decline
During the various phases of the product life cycle, the marketing mix is treated differently. Companies will often change the product, price, place, and promotion based on the product's stage.
Choose 1 of the fitness devices listed in the following article:
Best Fitness Tracker Overall: Fitbit Charge 5
Best Fitness Tracker For Sleep Tracking: Fitbit Sense
Best Budget Fitness Tracker: Amazfit Band 7
Best Fitness Tracker For Hiking: Polar Vantage V2
Best Fitness Tracker For Training And Recovery: Whoop 4.0
Best Fitness Tracker For The Outdoors: Suunto 9 Peak Pro
Best Fitness Tracker For Runners: Coros Pace 2
Best Fitness Tracker for Everyday Use: Apple Watch 7
Respond to the following questions:
• What product life cycle stage do you believe this product is currently in?
• What might cause the product to move to the next stage?
• What examples from the marketing mix for the product can you provide to support your answer?