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What is Phases of Product Life Cycle Management about?

PLCM is the succession of strategies used by business management as a product goes through its life cycle, which includes four main stages: introduction, growth, maturity, and saturation/decline. During introduction, costs are very high and sales volumes are low with little competition. Growth sees reduced costs, increased sales volumes, and rising profits as competition grows. Maturity reaches peak sales but also peak competition and falling prices. Finally, saturation/decline experiences diminished costs,

Author

Yusra-angelz Fayzu

Language

EN