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.


   
   

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



   

MBA Brief offers accurate and concise definitions of MBA concepts, frameworks, methods and models.

We love to keep things really short, but provide links to learn more about your subject and to similar concepts.





© 2022 MBA Brief - Last updated: 5-12-2022  -  Privacy   |   Terms