Definition
The stages a product goes through from its initial introduction to the market to its eventual withdrawal from the market.
In the room
How the word shows up in a real conversation.
You know Product life cycle is doing work when it changes a weekly choice — price, hire, channel, or kill. The working definition: Stages a product goes through from introduction to decline in the market.
Common mistake
Using Product life cycle as a label instead of a fact. If you cannot point to the evidence — a number, a customer, or a written assumption — you are using the word as jargon.
See also
Product availability
Measure of how readily a product can be obtained by customers.
Read definition →
Product branding
Process of creating a unique identity and image for a product in the market.
Read definition →
Product certification
Official recognition that a product meets specific quality or safety standards.
Read definition →
Product compliance
Adherence to laws, regulations, and standards that apply to a product.
Read definition →
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