What is Product Life Cycle?
A definition of Product Life Cycle
“The product life cycle is a model that describes the stages a product goes through from introduction to withdrawal from the market.”

Business Glossary > What is Product Life Cycle?
Examples of Product Life Cycle in a Sentence:
Understanding the product life cycle helps companies strategize better.
The product life cycle includes stages such as growth and maturity.
Our team analyzed the product life cycle to determine marketing needs.
Why is Product Life Cycle Important in Business?
The product life cycle is important for businesses to strategize marketing and pricing strategies based on the current stage of the product. It helps in planning for product development and market sustainability.
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Associated Terms
Here are some associated business terms and synonyms for “Product Life Cycle”:
- Product Lifecycle
- Market Life Cycle
- Product Journey
Apple Product Life Cycle
Apple carefully manages the product life cycle of its iPhones. From the introduction stage with high marketing efforts to the decline stage where a new model is prepared to launch, the company maximizes profits and market coverage at each stage.
Final Notes on Product Life Cycle
Companies should be aware of each stage of the product life cycle to maintain a competitive edge.
Careful planning during each phase can enhance product longevity and profitability.
Managing the product life cycle involves adapting business strategies to market demands and technological advancements.
This has been a definition of Product Life Cycle meaning.
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