Product Life Cycle Flashcards
1
Q
What is product life cycle?
A
A product life cycle is a model that describes the stages a product goes through from its development to its decline.
2
Q
Why a product life cycle is important
A
- Forecast sale trends
- Market targeting positioning
- Analyse and manage product portfolio
- Focus investment in products
3
Q
Stages of Product life cycle
A
Development, Introduction, Growth, Maturity, Decline (DIGDM)
4
Q
A
