Introduction Stage

The Introduction Stage is the first phase in the life cycle of a product or idea. During this period, a new product is launched and made available to consumers. Awareness is created through marketing efforts, but sales are usually low as potential customers are still learning about the product. The focus is on educating the market and encouraging adoption. Challenges include high costs of promotion and production, and the need to refine the product based on initial feedback. This stage is crucial as it sets the foundation for future growth and development.