product life cycle



Four distinct but not wholly-predictable stages every product goes through from its introduction to withdrawal from the market: (1) introduction, (2) growth in sales revenue, (3) maturity, during which sales revenue stabilizes, and (4) decline, when sales revenue starts to fall and eventually vanishes or becomes too little to be viable. As a product moves through these stages, its pricing, promotion, packaging, and distribution are re-evaluated and changed if required to prolong its life. In summary, it is the journey from "new and exciting" to "old and dated."

Use product life cycle in a sentence

  • If you want to know how much of a product to make you first need to figure out the product life cycle.

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  • I told me dad about the product life cycle and how it would first begin and then how it would end.

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  • The investor who purchased the website Myspace lost a large sum of money because he did not realize that the site was at the end of the product life cycle by the time he bought it.

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