Product life-cycle management (marketing)

The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages.

Product Lifecycle Management (PLM) integrates people, data, processes and business systems.

PLM solutions help organizations overcome the increased complexity and engineering challenges of developing new products for the global competitive markets.

The product life cycle proceeds through multiple phases, involves many professional disciplines, and requires many skills, tools and processes.

Extending the product life cycle by improving sales, can be done through Something important to notice is that all these techniques rely on advertising to become known.

A model for the product sales lifecycle, with the assumption of four major phases: introduction, growth, maturity, and decline. Curve of sales as a function of the time of the product on the market. After a plateau in sales at product maturity, a steep decline can follow.