MANAGEMENT

Detailed explanation-1: -A product life cycle is the total amount of time that a product is available to consumers, from when it’s first introduced until it’s removed from the market. A product’s life cycle begins when it’s initially developed and introduced to the market and ends when the product is no longer available for purchase.

Detailed explanation-2: -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.

Detailed explanation-3: -Decline: During the decline stage, sales and profits start to decline. Companies may start to reduce their spending on the product and look for ways to cut costs. Discontinuation: The final stage is when the product is discontinued from the market.

Detailed explanation-4: -The product life cycle is the progression of a product through 5 distinct stages-development, introduction, growth, maturity, and decline.

Detailed explanation-5: -Once a product has been developed, it begins the introduction stage of the PLC. In this stage, the product is released into the market for the first time. The release of a product is often a high-stakes time in the product’s life cycle, although it does not necessarily make or break the product’s eventual success.