4. Decline Stage: Everything that has a beginning has an end. At the stage sales deteriorate drastically. And the product will phase off the market unless the product is redesigned.
this is not a guaranteed stage and almost 99% of things you see in the world never have such an stage. for example when paper money was created it took all the first 3 steps and then entered the "thriving stage" as it was mass adopted and used everywhere. the same was repeated when the same paper money became digital when digital banking started.
now it is all being repeated with introduction of bitcoin and after mass adoption we will enter "thriving stage" where bitcoin stays stable and continues working for decades to come.