Understanding the Stages of the Product Life Cycle

Chinonso Udokporo

A chapter in Product Life Cycle - Opportunities for Digital and Sustainable Transformation from IntechOpen

Abstract: Originally formulated in the context of biological studies, the Life cycle (LC) concept was and now has become widely adopted as a framework for the interpretation and evaluation of phenomena that are subject to, and bound by the inevitability of change. The application of the LC concept to the development of industrial products is an important element in the administration of technological innovation. On this basis, therefore, it is referred to as the product life cycle (PLC). The concept of the PLC is used to support decision making in the management of product development. It may also be used in corporate strategy development, as well as the planning of activities and can be adapted to focus on technology deployment.

Keywords: product life cycle stages; introduction; growth; maturity; decline; management (search for similar items in EconPapers)
JEL-codes: M10 (search for similar items in EconPapers)
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.intechopen.com/chapters/77641 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:240003

DOI: 10.5772/intechopen.99036

Access Statistics for this chapter

More chapters in Chapters from IntechOpen
Bibliographic data for series maintained by Slobodan Momcilovic (ai@intechopen.com).