What is the Product Life Cycle?

Definition: A marketing theory in which products or brands follow a sequence of stages including : introduction, growth, maturity, and sales decline.

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2008-10-08 09:00

Product lifecycle management

Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal.[1] PLM integrates people, data, processes and business systems and provides a product information backbone for companies and...

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The PLC

The Product Life Cycle (PLC) is based upon the biological life cycle. For example, a seed is planted (introduction); it begins to sprout (growth); it shoots out leaves and puts down roots as it becomes an adult (maturity); after a long period as an adult the plant begins to shrink and die out...

The Product Life Cycle

A product's life cycle (PLC) can be divided into several stages characterized by the revenue generated by the product. If a curve is drawn showing product revenue over time, it may take one of many different shapes, an example of which is shown below:

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