Product Lifecycle

• Product Lifecycle is the stages that a product will go through in its lifetime
• Product lifecycle is a technique used to track the stages a product goes through during its life
• It tracks sales over time from the development stage of a product through launch and until it is removed from the market
• Although a product lifecycle relates to just one product businesses will want to have products at different stages
• For example the revenue from a product that has reached maturity could be used to develop a new product