Product life cycle diagram is the graphical representation of four stages of a product life namely: Introduction, Growth, Maturity and Decline phase. Product life cycle also called PLC is a concept of marketing that tells about the various stages of a product in its entire existence period or life.

The four stages in the Product life cycle diagram indicates:

• Introduction: This is the introductory phase of a product when it is initially launched in the market and has low growth rate.
• Growth: This is the second phase when there is very high growth rate and the product generates maximum revenue in the growth phase.
• Maturity: In this, the profitability and the market share becomes less due to intrusion of many competitors in the same market.
• Decline: This stage is the end of product life in the market as its becomes to old to the customers that develops disinterest among the product.

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