Question

What is product life cycle ? Explain the various phases of product life cycle.

Answer 1

Product Life Cycle. A new product progresses through a sequence of stages from introduction to growth, maturity, and decline. This sequence is known as the product life cycle and is associated with changes in the marketing situation, thus impacting the marketing strategy and the marketing mix.

Answer 2

it is progression of an item through four stages:

maturity,growth,decline,introduction.....