Product Life Cycle Model at Life

Product Life Cycle Model. Category relationships and product life spans. The product life cycle describes the stages of a product from launch to being discontinued.

As you can appreciate in the image above, we have established 6 main life cycles (we’ll add 2 more). The product life cycle method identifies the distinct stages affecting sales of a product, from the product's inception until its retirement. It is a strategy tool that helps companies plan for new product development and refine existing products.

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It is a strategy tool that helps companies plan for new product development and refine existing products. What are the stages of the product life. In the introduction stage , the product is introduced to the market through a focused and intense marketing effort designed to establish a clear identity and promote maximum awareness. Increase in sales and high profit.