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Product lifecycle |
Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline.1
Product Life Cycle (PLC) deals with the life of a product in the market with respect to business or commercial costs and sales measures. Product Lifecycle Management (PLM) deals with managing descriptions and properties of a product through its development and useful life, mainly from a business or engineering point of view.
| Product Life Cycle | Product Lifecycle Management | Marketing & Sales | Engineering | Logistics | Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PLC | PLM | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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