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Student and Utah State University

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Student and Utah State University
• Discuss potential key changes in the external environment, specifically competition and technology including communications that Sigma will face in the future. Which will have the most impact on Sigma's future marketing strategies?
We discussed in the previous theme the development of a market and how to determine if a product fits or if it needs alteration. Now, we look at the product in the marketplace and how long it can survive.

All products have a lifecycle. They begin as an idea that needs Research and Development (R&D) or time to develop. This is a direct cost to the company. Once the product and/or service is ready to be marketed, it goes through five stages: development, introduction, growth, maturity, and decline.
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