Product life cycle

Introduction

All products or services that your business offers will change throughout their life cycle. A product life cycle is the period that begins with the initial idea for the development of a product or service to the eventual withdrawal of that product from the market.

There are several stages involved in developing, selling and using a product. By better understanding them, you can increase the profitability, interest and demand for your product or service.

This guide explains the various stages involved in a life cycle. It also covers how you can increase your profits, generate increased interest, and the ideal time to start developing and bringing a new idea to the market. There's also information on life cycle analysis and understanding the environmental impact of your product throughout the different stages of its lifecycle.

Subjects covered in this guide


Developed with:
Design Council