googled for this and found a helpful article for you http://en.wikipedia.org/wiki/Product_lifecycle
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The product life cycle has 4 very clearly defined stages, each with
its own characteristics that mean different things for business that are
trying to manage the life cycle of their particular products.
2. Growth stage:
The growth stage is typically characterized by a strong growth in
sales and profits, and because the company can start to benefit from
economies of scale in production, the profit margins, as well as the
overall amount of profit, will increase. This makes it possible for
businesses to invest more money in the promotional activity to maximize
the potential of this growth stage.
During the maturity stage, the product is established and the aim for
the manufacturer is now to maintain the market share they have built
up. This is probably the most competitive time for most products and
businesses need to invest wisely in any marketing they undertake. They
also need to consider any product modifications or improvements to the
production process which might give them a competitive advantage.