The Introduction Stage of the product life cycle, when the firm first begins selling its product in the market. This stage of the cycle could be the most expensive for a business launching a new product. The size of the market for the product is small, which means sales are low, although they will be increasing. On the other hand, the cost of things like research and development, consumer testing, and the marketing needed to launch the product can be very high, especially if it's a competitive sector.
The product life cycle describes the period of time over which an item is developed, brought to market and eventually removed from the market. The cycle is broken into four stages: introduction (launch), growth, maturity and decline.