The-definition.com

Definition

Product Life Cycle

Product Life Cycle is a conceptual model of the stages through which products or lines of businesses pass. Includes development, growth, maturity, and decline. Each stage presents its own threats and opportunities.


Product life cycle is the four basic stages— introduction, growth, maturity, and decline— through which a successful product progresses.


Product life cycle is a model that describes the stages that a product or a product category passes through from its production to its removal from the market.


Product life cycle is the succession of phases including the introduction, growth, maturity, and decline of a product in its market.


The theoretical life of a product, consisting of four stages; introduction, growth, maturity, and decline.

Share it:  Cite

More from this Section

  • Uninsured / Underinsured Motorist Coverage
    Uninsured / Underinsured Motorist Coverage pays (up to the coverage limit) for injuries ...
  • Mediation
    Mediation refers to the intervention in which a neutral third party tries to assist the ...
  • Human resource management
    Human resource management is the formal structure within an organization responsible for ...
  • Braking assist
    Braking assist is a system that monitors the swiftness of a driver's brake pedal application ...
  • Fuel/water separator
    Fuel/water separator is a device that separates the water from the fuel in addition to, ...