industrial life cycle

• Pioneer
• It is not clear that a product will be accepted in the industry.
• Growth
• Proper execution of strategy is critical.
• Characterized by rapid growth in sales and healthy profit margins.
• Mature
• Participants compete for market share in a stable industry.
• Decline
• Changing tastes have an important impact on the industry.

Labor costs are not generally an indicator of an industry life cycle stage.