Product lifecycle

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Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline.^[1]

Product Life Cycle (PLC) deals with the life of a product in the market with respect to business or commercial costs and sales measures. Product Lifecycle Management (PLM) deals with managing descriptions and properties of a product through its development and useful life, mainly from a business or engineering point of view.

	Product Life Cycle	Product Lifecycle Management	Marketing & Sales	Engineering	Logistics	Finance
	PLC	PLM
T i m e l i n e	. . Development . . . Introduction Growth Mature Decline	Conceive . Design . Realize . Service .	Ideation (idea generation) . . . Advertising . Selling Sales Order processing . . .	Ideation Concept Design Detailed Design Tool Design Production Planning Manufacture Maintenance Redesign Recycling	. Sourcing Procurement . Purchasing Stock control Delivery Spare Parts	. Investment . . . Cash flow PO SO admin . Return

[edit] See also

Look up life cycle in Wiktionary, the free dictionary.

• Product management
• Technology lifecycle

[edit] Notes and references