Browse Definitions :
Definition

product lifecycle (in marketing)

Contributor(s): Ivy Wigmore

The product lifecycle, in a marketing context, is all the stages of a product's life span that are related to its promotion and sales. 

The marketing lifecycle is traditionally broken down into four stages: introduction, growth, maturity and decline. 

  1. In the introduction stage, the product is released to the market; pricing and branding decisions are made and marketing begins. 
  2. In the growth stage, vendors work to increase brand recognition and market share. 
  3. In the maturity stage, market saturation has been achieved. The attempt is to maintain market share. Once sales begin to decrease, extension strategies may be employed to try to keep the product in the maturity stage. 
  4. Otherwise, the product is in its decline stage and an exit strategy may be set in motion. 

The marketing lifecycle is less comprehensive than the concept of the product lifecycle in manufacturing, which encompasses all the stages a product goes through from its initial conception (beginning-of-life, or BOL) to its eventual disposal at the end of its useful life (EOL). 

This was last updated in August 2018

Continue Reading About product lifecycle (in marketing)

SearchCompliance

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

  • PCI DSS (Payment Card Industry Data Security Standard)

    The Payment Card Industry Data Security Standard (PCI DSS) is a widely accepted set of policies and procedures intended to ...

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

SearchSecurity

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

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

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • RAM (Random Access Memory)

    RAM (Random Access Memory) is the hardware in a computing device where the operating system (OS), application programs and data ...

  • business impact analysis (BIA)

    Business impact analysis (BIA) is a systematic process to determine and evaluate the potential effects of an interruption to ...

  • M.2 SSD

    An M.2 SSD is a solid-state drive that is used in internally mounted storage expansion cards of a small form factor.

Close