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The lifetime of a product or business, from its creation to its demise or transformation.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Industry Life Cycle
The period of time from the introduction of an industry to its decline and stagnation. Different analyses posit different stages of an industry life cycle (usually four to five), but all emphasize that an industry has a beginning, with technological innovation; a period of rapid growth; maturity and consolidation; and finally decline and possibly death. For example, in the video cassette recording (VCR) industry, the mid-1970s were a period of decentralized technological innovation, with VHS and Betamax formats vying for dominance. Later, video cassettes very quickly became a common household item. In the maturity phase, different companies selling VCRs attempted to corner a greater market share for their own (identical) versions of the product. Finally, the industry declined and was eventually supplanted by DVD players. An industry life cycle can be prolonged by several factors, including opening new markets to the product, finding new uses for the same product, or even attaining government subsidies. The concept of an industry life cycles applies most readily to the sale of goods and it is difficult to gauge how it works in a service economy.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
- the stage people have reached in their life, from single at home through young parents to solitary retired. See SOCIOECONOMIC GROUP, BUYER BEHAVIOUR.
- see PRODUCT LIFE CYCLE.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
The various phases of a project—predevelopment, development, leasing, operating, and rehabilitation.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.