logo share us

Product Lifecycle

   

Definition: the Product Lifecycle is a product management term indicating the development stages which products or their category normally bypass.
The classic stages as described by Levitt in 1965 are:
- Introduction: The product is introduced in the market through a focused and intense marketing effort. Low competition.
- Growth: Increasing sales and the emergence of competitors.
- Maturity: Sales volume reaches a steady level and then starts to slow down. Loyal customers. Aggressive competition.
- Decline: decline in sales.
The PLC is typically - but not necessarily - bell curve shaped.
Also called: industry life cycle.


   
   
💡

Learn more about the Product Lifecycle.



More on product management: B2B Products, Perceptual Mapping, Planned Obsolescence, Positioning, Product, more on product management...

You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA.



MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

We like to keep things short, and provide links to learn more about your subject.


add us to your desktop

Add MBA Brief to your desktop / iPad

   

© 2024 MBA Brief - Last updated: 29-3-2024  -  Privacy   |   Terms