product lifecycle
Birth-to-discontinuation journey
Product lifecycle refers to the stages a product goes through from conception to discontinuation.
The standard phases are development, introduction, growth, maturity, and decline—each with distinct marketing strategies and profit patterns.
The product lifecycle for smartphones is much shorter than it was for landlines.
In manufacturing, the term also covers a product's physical existence from raw materials through disposal or recycling.
- S-curveTwo opposing consecutive bends
- roadmapDetailed plan forward
- value propositionPromised benefit to customers
- cash cowDependable income source
- ManufacturingIndustrial goods creation
development · competitive analysis · planned obsolescence · innovation · user experience · market saturation · market segmentation · customer feedback · market research · iteration · version control · feature creep · time to market · strategy · rollout · quality control · supply chain · maturity
- sustainabilityreduce, reuse, recycle, sustainable yield, recycling programs
- product designCAD, prototyping, design process, design iteration, specifications
- Product Developmentdevelopment, roadmap, prototype, design, backlog
- CAD/CAMCAD, AutoCAD, SolidWorks, drafting, 3D modeling
- Traceabilitytrack and trace, chain of custody, provenance, serial number, batch number
- marketingadvertising, digital marketing, ad campaign, advertisements, ads