The product that I chose is home video games. The introduction to this concept was simple. The very beginning home video game that I played was Pong.It was introduced in the early 1970’s as a television add on game console that you turned a dial and hit a blip across your television screen. This item was costly as it was unusual and not the normal item a family of that time period would buy, and I don’t recall them having any competitors.
In the growth phase the home video games grew into various other skill games, with such brands as Atari, Play Station, and XBOX. The games went from a bouncing ball on the television screen to games with actual graphics. One of the Atari games that comes to ind is a game called “Asteroids”. This game consisted of a control joy stick being used to operate a blaster that destroyed asteroids that seemingly came out of no where. As time went on, so did the advancement of the graphics used in the games.
The maturity phase saw Play Station and XBOX competing for the top spot in the home video game market. Sales peaked for both of these products as Atari and Pong fell by the wayside and are now considered obsolete and antique. Both Play Station and XBOX have had several models since their inception and have basic game consoles that can have various discs with specific games inserted into the console and operated with unlimited options. Keeping the console without much change and having the ever changing discs available for purchase.
The decline phase of the lifecycle is the market is saturated and now with all of the virtual reality games, these companies need to stay one step ahead with technology and super cool games to keep the home gamers interested in their product. In my opinion there is some decline, however since the COVID lock down, I think may have renewed an interest in home video games. I personally have had all of these gaming consoles and now still own an XBOX One, and it has been at least 6 months since I played it.
Poh, Michael, March 27, 2021, “Evolution of Home Video Game Consoles (1967 – 2011)”, https://www.hongkiat.com/blog/evolution-of-home-video-game-consoles-1967-2011/