Browse Definitions :
Definition

product lifecycle

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

Continue Reading About product lifecycle

SearchCompliance
  • risk reporting

    Risk reporting is a method of identifying risks tied to or potentially impacting an organization's business processes.

  • risk avoidance

    Risk avoidance is the elimination of hazards, activities and exposures that can negatively affect an organization and its assets.

  • risk profile

    A risk profile is a quantitative analysis of the types of threats an organization, asset, project or individual faces.

SearchSecurity
SearchHealthIT
SearchDisasterRecovery
  • What is risk mitigation?

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • fault-tolerant

    Fault-tolerant technology is a capability of a computer system, electronic system or network to deliver uninterrupted service, ...

  • synchronous replication

    Synchronous replication is the process of copying data over a storage area network, local area network or wide area network so ...

SearchStorage
  • cloud archive

    A cloud archive is storage as a service for long-term data retention.

  • cache

    A cache -- pronounced CASH -- is hardware or software that is used to store something, usually data, temporarily in a computing ...

  • archive

    An archive is a collection of data moved to a repository for long-term retention, to keep separate for compliance reasons or for ...

Close