The Product Life Cycle
With my experience at Maverik Lacrosse, Ive learned that the product life cycle is very prevalent in every product line that Maverik and Cascade (A partner company of Maverik) creates. For this blog, I will focus on the product life cycle of different Maverik products.
What is the Product Life Cycle?
New products go through a sequence of stages from introduction to growth, maturity, and decline. The introduction stage is the stage that is usually the most expensive for a company because the size of the market for the new product is small, and sales are usually low, while the cost of research and development is high based on competition. The growth stage is the stage characterized as the stage with high sales and profits. The maturity stage is that stage where the producer must aim to maintain the market share they built up. This is the most competitive time for most products as well. The decline stage is the stage where the market will begin to shrink and usually meet its demise and companies will begin to find a cheaper way to produce these items, or stop making them all together.
Examples of Maverik Products in Each Stage
Introduction Stage- The New Centrik Head: Maverik's newest head just hit the shelves in September
Growth Stage- The Tank and Optik Heads:
2 of Maverik's most popular heads that have established a spot in the market
Maturity Stage- The Cascade R Helmet:
Still the best selling helmet today, the cascade R is used by teams across the country.
Decline Stage- The Maverik WonderBoy Shaft:
One of Maveriks first shafts they created. Has
been replaced by newer technology in recent years.
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