productlevenscyclusmanagement
Product lifecycle (PLC) is a model used in marketing and product management that describes the progression of a product through four or five stages: introduction, growth, maturity, and decline; some models add a withdrawal or end-of-life stage. The cycle begins with ideation, development, and launch (which are part of introduction together with commercialization). During introduction, sales are low, costs are high, and awareness is built. Growth sees rising sales, increasing profitability, and expanding market share as adoption accelerates. Maturity features peak market penetration, slower sales growth, intensified competition, and price pressure; profits may stabilize or decline as costs rise. Decline occurs when sales and profits fall due to market saturation, technological change, or shifting consumer preferences, leading to eventually retirement or sunsetting of the product. Some products skip stages or revisit stages due to reinvention, product line extensions, or repositioning.
Uses: PLC helps plan marketing mix, pricing, production, and resource allocation; it informs decisions about product