In this video, I received an email from a subscriber asking what stage of the product life cycle is there no ad spend. That is a great question; however, there was no context. So, I had to create this video to explain more to the product life cycle than that.

The truth is, you decide when to spend on marketing and when not to. However, If you watch this video, you'll gain an in-depth understanding of the product life cycle for you to make effective decisions when it comes to your business's product launches.

I go through all the stages of the product life cycle—the first stage, the introduction stage. The second stage is the Growth stage; this is where your product sales are starting to increase dramatically.

Next is the maturity-saturation stage. This is the stage you reach when you've reached a peak in sales for your product. So much, so that other entrepreneurs and businesses are starting to enter into the same space as you because they want to compete and capture customers, you haven't captured yet.

Therefore, they will try to compete with you on features, aesthetics, branding, and even price points. This is when the market will become saturated as there will continue to be different options that solve the same problem relatively. However, in some cases, you will have the advantage if you're the first mover in the space.

Next is the decline stage. This stage is when you notice that your sales for a specific product are. Beginning to decrease for about 3 consecutive quarters. Of course, you will need to view this slightly differently with seasonal businesses. But the idea of the decline stage means it's time to either revamp your product and create something that's more brand new.

The other option is to discontinue this product's manufacturing and no longer spend money on advertising for this product. You will sell whatever is left of this product and move on.

For more on Marketing, Leadership, and Business, Check us out at our website: [ Ссылка ]

You can also visit our contact page to shoot me an email with any questions you might have. If you choose to use the live chat option - leave your email so you can get a response once I have time to get to you.

Email me any questions right here: bobby@madmarketingpro.com

If you enjoyed this video, feel free to subscribe, like, or share with someone who will take value from it.

Also, I created a Patreon channel where I will be releasing different content from what's here on my YouTube channel.

Thie Patreon Channel will consist of leadership content. The content here is strictly for those looking to take on leaders' roles or are currently in a leadership position.

You will learn how to respect everyone around you without asking for it or trying to please others to get their respect. Of course, there will always be difficult people. But the difficult people are showing you more about how they view themselves rather than how they view you.

It's important to have these leadership skills in business. Here's a link to the channel. It's only $7 per month: [ Ссылка ]

свернуть