The Product Lifecycle Marketing Framework outlines the stages a product goes through from its introduction to eventual decline, and offers strategic guidance for managing marketing activities across each phase. The lifecycle is divided into four key stages: Introduction, Growth, Maturity, and Decline, with each requiring tailored approaches in product development, pricing, distribution, advertising, and sales promotion.

In the early Introduction phase, efforts focus on building awareness and stimulating trial through selective distribution, basic product offerings, and heavy promotions. As the product enters Growth, the emphasis shifts to expanding reach, enhancing features, and intensifying advertising to capture a larger market share. During Maturity, strategies aim to retain customers through differentiation, loyalty tactics, and competitive pricing. Finally, in the Decline stage, businesses scale back efforts, cut prices, and selectively phase out the product to maintain profitability with minimal investment. This framework helps marketers align their strategies with the natural progression of a product’s life in the market.