GENERAL KNOWLEDGE

Detailed explanation-1: -A product life cycle is the amount of time a product goes from being introduced into the market until it’s taken off the shelves. There are four stages in a product’s life cycle-introduction, growth, maturity, and decline.

Detailed explanation-2: -It is referred to as the product life cycle or PLC. It (PLC) identifies and explains four stages of product development-introduction, growth, maturity, and decline.

Detailed explanation-3: -A product life cycle is the length of time from a product first being introduced to consumers until it is removed from the market. A product’s life cycle is usually broken down into four stages; introduction, growth, maturity, and decline.

Detailed explanation-4: -A product life cycle consists of four stages: introduction, growth, maturity, and decline. A lot of products continue to remain in a prolonged maturity state. However, eventually, in every product life cycle, the product eventually phases out from the market.

Detailed explanation-5: -During the growth stage, consumers have accepted the product in the market and customers are beginning to truly buy in. That means demand and profits are growing, hopefully at a steadily rapid pace. The growth stage is when the market for the product is expanding and competition begins developing.