Definition

product lifecycle

Part of the Project management glossary:

The product lifecycle is the collective stages that a product goes through from its conception and design through to its ultimate disposal. 

In manufacturing, the lifecycle stages are generally categorized as beginning-of-life (BOL), middle-of-life (MOL) and end-of-life (EOL). The beginning-of-life stage encompasses everything to do with product development: the design, creation, testing and initial marketing of a new product. 

If a product is successful, the  middle-of-life stage is of longer duration than the other stages. MOL is where the majority of marketing and sales endeavors are concentrated. In a marketing context, the product lifecycle is usually considered to begin with initial marketing and finish with the decline in sales. So, essentially, the marketing product lifecycle is roughly equivalent to the middle-of-life segment of the manufacturing-centric product lifecycle. 

The product end-of-life is the stage where a product is discontinued. Depending on the type of product, EOL may be planned and scheduled. However, a product's EOL is more often the result of a decline in sales or the release of a new product that replaces it. A comprehensive EOL strategy includes plans for disposal of the product or its components. 

See also: product lifecycle sustainability, product footprint

This was last updated in December 2013
Contributor(s): Ivy Wigmore
Posted by: Margaret Rouse

Related Terms

Definitions

  • How to write a business case document

    - A business case document is a formal, written argument intended to convince a decision maker to approve some kind of action. This guide explains what to include in a business case document, how to ... (WhatIs.com)

  • employee productivity

    - Employee productivity is an assessment of the efficiency of a worker or group of workers. Productivity may be evaluated in terms of the output of an employee in a specific period of time. This defi... (WhatIs.com)

  • interruption science

    - Interruption science is the study of how disruptions from current tasks affect employees on the job. As part of the larger field of workplace psychology, the study explores the impact of interrupti... (WhatIs.com)

Glossaries

  • Project management

    - Terms related to project management, including definitions about project management methodologies and tools.

  • Internet applications

    - This WhatIs.com glossary contains terms related to Internet applications, including definitions about Software as a Service (SaaS) delivery models and words and phrases about web sites, e-commerce ...

Ask a Question. Find an Answer.Powered by ITKnowledgeExchange.com

Ask An IT Question

Get answers from your peers on your most technical challenges

Ask Question

Tech TalkComment

Share
Comments

    Results

    Contribute to the conversation

    All fields are required. Comments will appear at the bottom of the article.