Industry Lifecycles Flashcards
(7 cards)
1
Q
what is an industry?
A
a group of organisations supplying a market offering similar products
2
Q
industry lifecycle phases?
A
- introduction
- growth
- shakeout
- maturity
- decline
3
Q
introduction?
A
when the business first begins
4
Q
growth?
A
when the business grows the most and becomes well known to the marketplace
5
Q
shakeout?
A
market begins to slow and weaker players are forced to leave/merge
6
Q
maturity?
A
period of low growth
stable
7
Q
decline?
A
firms leave industry and eventually cease
