The product life cycle is a term used in business to describe the different stages a product goes through from conception to disposal. Here’s a look at the different stages and what they mean for your business:
1- Conceptualization: This is the first step where the idea for a product is developed.
2- Development: This stage is where the product is designed and manufactured.
3- Manufacturing: This stage is where the product is created and shipped to the customer.
4- Marketing: This is where the product is being sold to customers.