The producers of Gillette razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered. Based on this example, razor blades are in the ____ stage of the product life cycle.
a. evaluation
b. growth
c. decline
d. maturity
e. introduction

The product life cycle refers to the time during which the product is introduced into the consumer market until it is removed from the shelves. Management and marketing professionals use this concept to decide when it is appropriate to increase advertising, lower prices, expand into new markets, or redesign packaging. The process of developing ways to continuously support and maintain a product is called Product Lifecycle Management.

The product life cycle is divided into four stages:

adoption
growth
maturity
decline

The stage of a product's life cycle affects how it is marketed to consumers. A new product must be explained, while a mature product must be differentiated from competitors.

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