What is the term for when a product is first introduced to the market?

The term for when a product is first introduced to the market is "Introduction." This stage is critical in the product life cycle, as it involves launching the product and creating initial awareness among potential customers. During the introduction phase, marketers focus on promoting the product to generate interest and educate consumers about its features, benefits, and uses. This period is often characterized by low sales and high expenses, as companies invest in marketing efforts, distribution channels, and product adjustments based on initial consumer feedback. Understanding the significance of the introduction phase is crucial for marketers to effectively position the product and set the stage for future growth.

In contrast to this, the growth, maturity, and decline stages represent subsequent phases in the product life cycle where the focus shifts to building market share, maintaining sales, and managing declining demand, respectively. Each of these stages reflects different marketing strategies and consumer behaviors, further highlighting the importance of the introduction phase.