Integrated Marketing Communications

All products has four stages of life: introduction, growth, maturity, and decline. However, this does not apply to BMW's products. Jim McDowell, the vice president of marketing for BMW says, "If a product is declining, we would prefer to withdraw it from the market, as opposed to having a strategy for dealing with the decling product". This means that the maturity and decline stages are not included in BMW's product life cycle. Before a product reaching the maturity stage that is characterized by decreasing sales rate and declining profit, BMW pulls it out of the market. BMW's cars usually have a product life cycle for about seven years.