Describe the pace at which your product will move through the product life cycle and the factors that will impact its movement.

Describe the pace at which your product will move through the product life cycle and the factors that will impact its movement:

The product is a new state of the art driving range as an elite service

The following is the product detail:

The proposed driving range will be contained within a 48,000 square foot domed roof facility. The primary part of the facility will be the arc-shaped driving range field. The field's maximum length will be 200 yards to the center of the arc and will have yardage markers on the edge of the arc to help define driving length. The main field will consist of six target greens ranging in length from 50 to 150 yards. Each green will have colored flags to identify the distance and to aid in shot targeting.
The 60 tee boxes will be eight feet wide and four feet deep to provide the optimum swing area for each patron. Each tee box will be equipped with Softgrass golf mats containing plastic tees for driving and an insert for using normal wooden tees. The tee box mats will also provide a grassy surface to practice iron play. For added safety, two-foot high fence guards will protect the sides of the tee box from an accidental mishit from other patrons.
In addition to the tee boxes, there will be two 10-foot diameter practice sand bunkers located on the opposite ends of the tee boxes. Four 30-foot wide, ten-foot deep instructional areas equipped with video and swing analysis equipment will end cap the practice tee area. Separated 20 feet behind the practice tee area will be the chipping and putting areas.
The 90-foot long by 45-foot wide chipping area will have varied thickness Softgrass fringes for practicing different situational lies. Hanging netting will encase the chipping green area to protect other patrons from errant shots. The 45-foot long, 45-foot wide putting green will have multiple target holes on a partially undulated surface for practicing straight puts as well as puts that will break.
A timesaving item contained in the practice area will be an automated ball-dispensing machine. This machine uses a magnetic-stripe card reader that allows patrons to dispense one of three offered quantities of golf balls according to the available balance on their prepaid cards. The dispenser will be equipped with high-performance range balls to aid in assessing a patron's golf swing.
The final item available in the driving range facility will be demo equipment for patrons to sign out. Vendors will supply the range with the newest models of their product line for customers to try out and see if it might be a club they would to add to their bag.

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...oduct. Prices decrease to entice people to purchase it. At this stage, you will hopefully be developing your next product to launch into the market.

So this state of the art driving range will be in the introduction stage. I believe that this product will move quite slowly through the product life cycle for a few reasons.
1) It is a technologically advanced product
2) It is very expensive to create, which will really reduce the number of competitors
3) The sheer size of the place (48,000 square foot) will make it unique, with the possibility of many features which can keep it "fresh" for consumers.

How does this come into play?

The product was launched in the market. Not many people know about it - perhaps only hard core golf enthusiast might find out about it to begin with. There are no other competitor in the market. The company needs to build awareness to the public perhaps by placing ads in gold magazines, banner ads on ...