Some traits of product life cycle are:
- It explains how the product progresses through a clear sequence so marketers can prepare stage-specific decisions.
- It shows how demand patterns change over time so teams can modify promotional messages.
- It shows fluctuations in sales trends so teams can regulate output levels.
- It highlights the intensity of rival activity so firms can refine market stance.
- It shows when modifications are required so firms can prolong market presence.
Also check out full details on characteristics of product life cycle to learn more about it.