Product lifecycle

Product lifecycle

Product lifecycle or product life cycle is the course of a "product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. [cite book |last=Kotler |first=Philip |coauthors=Gary Armstrong |title=Principles of Marketing, fourth edition (Annotated Instructor's Edition) |publisher=Prentice-Hall, Inc. |date=1989 |pages=639 (glossary definition) |isbn=0137061293]

Product Life Cycle (PLC) deals with the life of a product in the market with respect to business or commercial costs and sales measures.
Product Lifecycle Management (PLM) deals with managing descriptions and properties of a product through its development and useful life, mainly from a business or engineering point of view.

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ee also

* Product management
* Technology lifecycle

Notes and references


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