Product Life Cycle (With Real World Examples) | Strategic Management | From A Business Professor

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The term product life cycle refers to the length of time a product is introduced to consumers into the market until it is removed from the shelves. As one of the most important concepts in the business area, it is widely used by business professionals as a factor in deciding when it is appropriate to increase advertising, reduce prices, expand to new markets, or redesign packaging. So how many stages are included in the product life cycle? Are there some real-world examples? How to maintain the mature stage for a long time? In this video, I will discuss these questions with you.