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Service Life Cycle
The four stages of the service As an example, the hospitality
life cycle are the same as those industry consists of wide range of
of the product life cycle: fields within the service industry
introduction, growth, maturity, that includes lodging, restaurants,
and decline. Each stage has the event planning and theme parks.
same qualities. The only The four basic stages of a product
distinction is in the strategies life cycle are the introduction
that can be implemented. stage, growth stage, maturity stage,
and decline stage. This notion
helps the hospitalily industry to
arrange alternate marketing
strategies to address the
challenges that their products are
likely to face.
Source : Drubajyoti Kamakar (2013) ,SERVICE LIFE CYCLE (Marketing) , 2013
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