Describe about Product Life Cycle Management?
Contemporary Marketing
18th Edition
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Louis E. Boone, David L. Kurtz
Chapter12: Developing And Managing Products
Section12.5: Marketing Across The Product Lifecycle
Problem 1LO
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Describe about Product Life Cycle Management?
Expert Solution
Step 1:
The product life cycle explains the different phases of a product beginning from the product idea until it is finally removed from the market. There are some products which do not go through all the stages. The four stages of a product life cycle are:
- Introduction
- Growth
- Maturity
- Decline
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