Having correctly determined at what stage of the life cycle the company’s product is, it is possible to build an effective strategy for its development, determine the priority goals and objectives of the product, price, advertising and sales policy. In this article, we will analyze in detail each stage of the product life cycle, describe each stage of product life cycle management and give recommendations on the company’s marketing strategy for each phase of the life cycle curve.
what is product lifecycle management ?
why product lifecycle management marketing is important ?
why should companies develop and introduce new products ?