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Product and Service Life Cycle Definition and Explanation PDF | Download eBooks

Learn Product and Service Life Cycle definition in supply chain management with explanation to study “What is Product and Service Life Cycle”. Study product and service life cycle explanation with SCM terms to review supply chain management course for online MBA programs.

Product and Service Life Cycle Definition:

  • A generalized model of the behaviour of both customers and competitors during the life of a product or service; it is generally held to have four stages: introduction, growth, maturity and decline.

    Operations Management by Nigel Slack, Alistair Brandon-Jones, Robert Johnston

Product and Service Life Cycle Explanation:

The product or administration life cycle is a procedure that pursues the various stages that an item or administration experiences. The existence cycle is separated into four phases that help to recognize where in the market the item or administration is at the present time. We should investigate the various stages that each new item or administration will experience. The presentation phase of the item/administration life cycle is the point at which a business is propelling an item or administration into the market for the world to see. For this exercise, how about we utilize an item called Fab-O-Riffic, a spic and span clothing cleanser. In the presentation arrange, Fab-O-Riffic is brought into the market for individuals to buy. This stage is structured with the goal of expanding the consciousness of Fab-O-Riffic with an end goal to show signs of improvement familiar with the item or administration.

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