Product Life Cycle (PLC) – Definition, Stages, Strategies, and 4 Examples
Definition of Product Life Cycle (PLC) The product life cycle (PLC) represents a product’s journey from its market debut to its eventual removal. It consists of four main phases: introduction, growth, maturity, and decline. In essence, it’s like a roadmap for a product’s evolution. A product is new to the market during the introduction phase, … Read more