product life cycle
US /ˈprɑːdʌkt laɪf ˌsaɪkl/
UK /ˈprɑːdʌkt laɪf ˌsaɪkl/
1.
the series of stages a product goes through from its introduction to its withdrawal from the market
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Understanding the product life cycle helps businesses make strategic decisions.
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The new smartphone is currently in the introduction stage of its product life cycle.
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