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.^[1]
Product life cycle management (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.

	Product life cycle management	Product lifecycle management	Marketing & Sales	Engineering	Logistics	Finance
	PLC	PLM
T i m e l i n e	. . Development . . . Introduction Growth Mature Decline	Conceive . Design . Realize . Service .	Ideation . . . Advertising . Selling Sales Order processing . . .	Ideation Concept Design Detailed Design Tool Design Production Planning Manufacture Maintenance Redesign Recycling	. Sourcing Procurement . Purchasing Stock control Delivery Spare Parts	. Investment . . . Cash flow PO SO admin . Return

Contents

See also

Notes and references

See also

★ Product management

★ Technology lifecycle

Notes and references

1. Principles of Marketing, fourth edition (Annotated Instructor's Edition), , Philip, Kotler, Prentice-Hall, Inc., ,