An essential phase within the product life cycle is the product introduction phase. In this stage, the transition from development to launch takes place. As the product enters the market, it is important to consider the current market value and any competition that is currently in place. This way, the sales team can determine the most effective and successful launch of the product. In addition, it is necessary that the marketing team works to determine the best way to announce the product so the product is positively received by the customers. Along with all these factors, the company needs to ensure that secure regulatory approvals are done. Will all these aspects, the product introduction plays a key role along with the other steps in successfully launching a product.