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What is Managing the Product Life Cycle about?

1. Every product moves through a life cycle with five phases: introduction, growth, maturity, saturation, and decline. 2. In the introduction phase, sales are slow as the product enters the market. The growth phase sees rapidly increasing sales. 3. During the maturity phase, competition increases and sales growth slows. In saturation, sales reach their peak and additional growth is not possible. 4. Finally, in decline, sales and profits fall as the product becomes outdated and is eventually removed fr

Author

Pragathi Narasimman

Language

EN