Product Life Cycle Theory

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Product Life Cycle Theory

The product life cycle (PLC) is a series of steps or stages that all products go through starting with product development and ending with decline. As seen in the image, sales and profits are on the vertical axis, while time is on the horizontal axis. The PLC consists of five stages:

  1. Product development consists of the time between products being conceptualized and launched. Product development stages consist of A,B,C.
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