Which stage is NOT part of the product life cycle?

The product life cycle typically consists of four main stages: Introduction, Growth, Maturity, and Decline. Each stage represents a distinct phase in the lifecycle of a product, reflecting its market performance and sales trends over time.

The introduction stage involves the launch of the product into the market, where awareness is built, and early adopters start purchasing. The growth stage follows, characterized by increasing sales as the product gains popularity and market acceptance. In contrast, the decline stage occurs when sales begin to decrease due to market saturation, changes in consumer preferences, or the emergence of new alternatives.

The renewal stage, however, is not recognized as a formal part of the product life cycle. While products may undergo modifications or rebranding efforts, transforming a declining product back into a growth stage can happen but is not considered a distinct phase. Instead, any attempts to rejuvenate a product typically fall under strategies within the existing stages, particularly during the decline phase. Therefore, this makes the renewal stage an option that does not fit into the conventional model of the product life cycle.