Ganibade
Verified member
The phases of a product's lifecycle include introduction, growth, maturity, and decline. Branding creates awareness and distinction during introduction. In order to gain market share, brand building gets more intense throughout the growth phase. Rebranding or discontinuance may be necessary in cases of decline, whereas brand maturity entails preserving brand loyalty. Consumer recognition and trust are increased when branding is consistent across all stages. Sustaining relevance in the ever-changing market context is ensured by tailoring branding tactics to each stage of the lifecycle.
