Industry Life Cycle.docx - Industry Life Cycle A typical...

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Industry Life Cycle A typical industry circle covers four critical stages namely introduction, growth, maturity and decline. In a business environment, these changes are distinct and happen when a product is first manufactured and introduced into the market. The growth in sales and the subsequent decline in profits is also a feature of a product’s life. In line of these assertions, we can infer these processes as pertinent to Uber as a key player in the transport industry. Uber is a multinational transport network originally formed in 2009 by Garrett Camp and Travis Galanick. It was launched into the market in June 2010 in San Francisco to offset problems to the traditional taxi business. According to its founders, the main motivation behind the launch of this product was to offer an alternative for clients and operators in the transport industry. Since its launch in mid-2010, Uber has grown tremendously. The mobile app has raked in the company a fortune given that its value is estimated at $ 50 billion. Furthermore, its growth has tremendous
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Christopher Reinemann
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