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What is Product Lifecycle

Product Lifecycle: It is a marketing theory cycle or succession of strategies experienced through every product that begins along with a product’s introduction, sometimes considers as research and development, followed through its sales growth, after that maturity and at last market saturation and decline.

It parallels and is analogous along with that of animals and human beings, that is from birth to growth to maturity to decline and finally to death. For products it includes many tools, disciplines, skills and processes like the product goes by market forces including raw materials, elements, costs, different business processes, distribution to markets and sales.

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