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... > social science subjects > business and management > marketing (business) > marketing mix > products (marketing) > product life cycle
... > social science subjects > health and social care > health care management > marketing and customer value > marketing mix > products (marketing) > product life cycle

Preferred term

product life cycle  

Definition

  • the four stages through which a product passes during the course of its existence, including the sales and profit levels of the product over its lifetime; introduction stage, growth stage, maturity stage, decline stage. Especially relevant for advertisers in that the product's life cycle stage influences the planning, development, and implementation of the marketing, advertising, and promotion programs. [Source: Dictionary of Marketing Communications; Product Life Cycle (PLC)]

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https://concepts.sagepub.com/social-science/concept/product_life_cycle

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