The Law Dictionary

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PRODUCT LIFE CYCLE Definition & Legal Meaning

Definition & Citations:

Four variable and somewhat unpredictables stages a product goes through from its introduction and removal from the market: 1. Introduction, 2. sales revenue increase, 3. stabilization of sales revenue which includes maturity of the product, 4. withdrawal or decline, during which there is a fall in sales revenue and the product becomes less viable. As a product goes through these various stages, its pricing, advertisement, packaging, and consumption and reevaualted and changes are made to increase its life.


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