Service Life Cycle
The service lifecycle Products and services go through life cycles that are determined by the marketability of the product. The most common stages that services and products go through during its lifetime are the introduction, growth, maturity, decline or innovation. The strategy formulated will incorporate these stages. The introduction phase is largely a stage of experimentation to ascertain the product that is well received in the market (Kowalkowski et al. 2016). The growth stage will be a stage where there is an increment in sales due to the increased demand for the product. At this stage the firm will ...