The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

LIFE CYCLE OF A PRODUCT Definition & Legal Meaning

Definition & Citations:

As an improvement in marketing concept, goods and services live a progression from cradle to grave as a life span like people and living organism. Almost every product goes through the stages of introduction, growth, maturity or stagnation, and decline or death. Different products do have distinctly different patterns of demand. New product development requires a view dictating the need for continuous improvement.


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