Product Life-cycle Theory

Product life-cycle theory is a theoretical framework that provides a conceptual basis for understanding the overall dynamics of product development, marketing, and sales.

It has been widely used in academic research and practice to improve understanding of how various aspects of the product life cycle interact with each other.

The product life-cycle can be divided into five stages: introduction, growth, maturity, decline, and extinction. In the introduction stage, a new product is introduced to the market.

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