Answers
Yes but an objective answer to this question depends on industry today .Product lefe cycles are getting shorter these days due to high speed innovation. Product life cycle consists of following stages: Introduction, growth, maturity and decline.
Products at maturity stage have low costs of production and marketing costs. Generate profits. However, next step is decline may be due to rivalry or new product development.
It is possible to extend maturity stage by differentiating product and. introducing new features in the product at periodic levels.
These new developments should be consistent with market rivals, customer expectations and updated technology.
Example- many car makers like Mercedes have kept popular brands at maturity stage.
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