Cycle glossary

Product Lifecycle Analysis is a strategic tool used in product management to understand the stages a product goes through from its inception to its retirement. It helps product teams evaluate the performance of a product at each stage and make informed decisions about product planning, marketing, and sales strategies. Just like a human life cycle, a product goes through different phases - introduction, growth, maturity, and decline. By analyzing the product's lifecycle, product managers can identify opportunities for product improvement, anticipate market changes, and allocate resources effectively.