What is the product life cycle why is it important for, HR Management

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What is the product life cycle why is it important for

1. What is the product life cycle? Why is it important for marketers to know in which stage their product resides?

2. Give an example of a product which, in your opinion, resides in the Introductory stage, a product example for the Growth stage, a product example for the Maturity stage, and a product example for the Decline stage.

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