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To begin with, it should be noted that the product life cycle – is the period during which the product finds its customers. As a fact, period of physical existence is not the same as the life cycle. Life cycle lasts from first to last mass buyer of the product.
According to The product life cycle (2010), there are following life cycle phases:
1. The introduction of the product to the market. Due to the high cost of the introduction of new product (advertisement, marketing), the profit at this stage is minimal; moreover, the production costs are high. As a rule, pioneers and fans of new products become consumers of the product at this stage. Also, the competition at this stage is limited.
2. Growth and development. The product is approved by consumers and demand is rising significantly. In turn, production costs at this stage are reduced, but competition is growing. It is essential to note that the leading role in this phase plays production. In particular, the company requires a severe quality control, design and packaging.
3. Stage of maturity – is the period of sales slowing due to the fact that the product has already secured a majority of the perception of potential buyers. Profits stabilize or decline because of rising costs to protect the product from its competitors.

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Competition is also stabilized. The main task of the management on this stage – is to cover the costs that are incurred by the company in the development and sale of the product. The initiative in this phase goes to the trade.
4. Aging, decline. This stage can be characterized by decline in sales. Production costs on this stage are low, and the clientele can be described as traditional. The product is disappointing customers and leaves the market. The company needs actively sell reserves by reducing the price and additional advertising of the product.
Also, it should be mentioned that according to the theory of technical innovations life cycle, all people are divided into groups, depending on how long after release, they are buying the new product: innovators, early followers, early majority, late majority, late followers. According to the distribution curve of Everett Rogers, the life cycle of technical innovations is following: 2.5% of sales – the innovators, 13.5% – early followers, 34% – early majority, 34% – late majority, 16% – late followers, according to Laura Lake (2011).
In the current essay I would like to consider the Apple iPad 2 life cycle. A few days ago I was at the local Apple store and there was instruction on the usage of iPad 2. It is essential to note that that there were no students under the age of 55. Moreover, official data shows that consumer interest in the product is constantly falling. Thus, it can be said that the iPad 2 is currently bought by late followers, and the product is on the fourth stage of the life cycle. However, in my opinion, for beginners it is too early to change the iPad 2 on the following model. They just came to the vast expanses of the world of mobile technology, opened by Apple “empire” and unlikely they are ready to learn something new again. It means that at least until the end of the year, Apple will wait with the release of iPad 3, despite the fact that the rumors about this event have already actively being discussed in the media.
It should be noted that sale of iPad 2 in the U.S. started March 12, 2011, while the iPad 3 Apple plans to sale in late 2011, which coincides with the Christmas holidays. Thus, it can be said that the life cycle of the iPad 2 is amounted 9 months.