
Home > Terms > English, UK (UE) > Product life cycle management
Product life cycle management
Product life cycle management is the succession of strategies used by management and as a product goes through its product life cycle. This can be divided into four stages: market introduction stage, growth stage, maturity stage, and saturation and decline stage. During the market introduction stage, the product is unlikely to make much money and demand has to be created, but little competition is experienced. In the growth stage, awareness and sales for the product increase dramatically, profitability rises, but so does competition. In the maturity stage, sales volumes peak, and prices are reduced, both due to economies of scale and increased competition. In the final stage, profit becomes more a challenge of production/distribution efficiency than increased sales.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Marketing
- Category: Advertising
- Company:
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
BMW i8
The latest from BMW is this power packed combination of beauty, speed and efficiency. Yes it is the BMW i8, this beast clearly defies the ever extant ...
Contributor
Featured blossaries
SharfuddinR
0
Terms
11
Blossaries
2
Followers
Corporate Social Responsibility CSR


Browers Terms By Category
- General astrology(655)
- Zodiac(168)
- Natal astrology(27)
Astrology(850) Terms
- Home theatre system(386)
- Television(289)
- Amplifier(190)
- Digital camera(164)
- Digital photo frame(27)
- Radio(7)
Consumer electronics(1079) Terms
- Industrial automation(1051)
Automation(1051) Terms
- Radiology equipment(1356)
- OBGYN equipment(397)
- Cardiac supplies(297)
- Clinical trials(199)
- Ultrasonic & optical equipment(61)
- Physical therapy equipment(42)
Medical devices(2427) Terms
- Wine bottles(1)
- Soft drink bottles(1)
- Beer bottles(1)