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Healthcare Glossary
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Life cycle (product)
A model showing the progress of a product as it goes through four prescribed stages: introduction, growth, maturity and decline . Product life-cycle management (or PLCM) is the sequence of strategies used by business management as a product goes through its life-cycle.
See also:
Business plan
Product pipeline
Business strategy
Related terms
Background Factors, Competitors, Consumer, Launch, Launch plan, Cartel, Price taker, Crisis management, Marketing strategy, Brand mapping , Market skimming pricing, Brand value, Strategic business unit (SBU), Marketing objectives, Customer focus,
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