Marketing
The stage a product is in the product life cycle will often affect the marketing resources dedicated to its promotion. In the Introduction stage, a significant budget is allocated to educate consumers about the product and develop its branding. In the Growth stage, resources continue to be spent on branding and addressing price competition that will occur. In the Maturity stage, marketing strategy will shift to emphasizing competitive advantages and in the Decline stage, marketing decisions are formed around what will ultimately happen with the product. These include deleting the product from the marketplace, licensing, updating, discounting and regionalizing.