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1
What
Is
the
Product
Life
Cycle?
The
term
"product
life
cycle"
refers
to
the
period
from
when
a
product
is
introduced
to
consumers
in
the
market
until
it
is
removed
from
the
shelves.
This
concept
is
utilized
by
management
and
marketing
professionals
to
determine
when
to
increase
advertising,
reduce
prices,
enter
new
markets,
or
redesign
packaging.
The
process
of
strategizing
ways
to
continuously
support
and
maintain
a
product
is
called
product
life
cycle
management.
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Click to add new slide
What
Is
the
Product
Life
Cycle?
The
term
"product
life
cycle"
refers
to
the
period
from
when
a
product
is
introduced
to
consumers
in
the
market
until
it
is
removed
from
the
shelves.
This
concept
is
utilized
by
management
and
marketing
professionals
to
determine
when
to
increase
advertising,
reduce
prices,
enter
new
markets,
or
redesign
packaging.
The
process
of
strategizing
ways
to
continuously
support
and
maintain
a
product
is
called
product
life
cycle
management.
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