The product life cycle introduction stage is the first stage in the life cycle of a product. During this phase, a new product is launched into the market, aiming to create awareness, generate interest, and gain market acceptance. Companies invest in marketing and promotional activities to attract customers and establish a customer base. Pricing strategies may vary, often focusing on penetration pricing to entice early adopters. The introduction stage is characterized by low sales volume, high marketing costs, and limited profitability. It sets the foundation for the subsequent stages of the product life cycle.
In the context of an online community, the product life cycle introduction stage can be related to the launch of a new feature, service, or platform within the community. When introducing a new offering, community managers and administrators focus on creating awareness and generating interest among community members. They may employ targeted marketing strategies, such as email campaigns, social media promotions, or community announcements, to communicate the benefits and value of the new addition. Pricing strategies, such as offering introductory discounts or exclusive access, can be used to encourage early adoption and engagement. The introduction stage sets the tone for community members' perception and expectations of the new feature, service, or platform, laying the groundwork for its further development and growth within the online community.
