Industry Life Cycle Literature Review Cloth Line

Introduction

In this report we are trying to analyse the various steps of the industry life cycle. We will start by explaining the industry life cycle and analyse the various phases that an industry has to go through before it can diversify or integrate new businesses to itself. This will help us explore what are the various options that an industry has for handling competition which arrives during this life cycle.

In the next part of the report we will try to see how the industry life cycle model analysis help the industry can be used by the industry to take care of the competition. This we will try to do by using the industry life cycle model and placing the checkpoints in life cycle where the competition analysis can be integrated with the life cycle of the industry itself and hence competition analysis will be sub product of the industry life cycle.

In the final section of the report we will use the above developed theory to a real life industry. The industry that we have chosen is the clothing retail industry. The reason for choosing this industry is that it is very dynamic in nature and the industry dynamic of the industry are open for an person to have a major impact on the industry. Like the retailing depends on what the customers are willing to buy and this willingness can be generated by so many mediums these days. This leads to continuous changes and hence a shorter life cycle for retailing trends. But the retailing industry is booming across the world, we will try to see how the industry manages to do.

Industry Life Cycle

Like any human being the industry also has the same phase of birth, growth, maturing, decline and finally death. The only difference is that the phase’s duration are variable in case of industries. And the industry has an option to revive their phase and make it start from some other phase.

The four stages of an industry life cycle are: introduction, growth, maturity, and decline. The sales start in the introduction phase,...