The normal stages
that a industry
goes through during the course of its lifecycle in the market
. An industry lifecycle is broken into five separate phases: Early stages phase
phase, cost/shakeout phase, maturity
phase and decline phase. During the initial phase, the product
may be altered to make a place for it in the industry. The innovation phase looks to expand the product even further to come up with a concrete design
. The next phase involves companies within the industry establishing a concrete design thus eliminating some of the smaller companies that do not follow this patter.
At the maturity stage
from the product becomes the main focus of the company
. Finally, the decline phase is marked by decreasing revenue as demand
shifts to another product in the industry.