This is the stage wherein a product is introduced to the market. Usually, the prices are kept as low as possible to capture the maximum market share.However, this is only in the case of mass products.In the case of high-end products like the Apple iPhone, the strategy is different.In the Introduction Stage of the Product Life Cycle of Apple iPhone, the price is kept high so as to maintain the exclusivity of ownership.iPhone users wouldn’t prefer everyone owning an iPhone, that’s why the price is so kept so as to attract only a premium segment of the audience.During the introduction phase, advertising, sales & marketing costs are usually high. Coupled with low prices, this results in a period of negative profitability/loss for the company. firms start spending more money on marketingBy the time a product enters the growth phase, the audience has already started building a certain affinity towards it.