<ul><li>The Product Lifecycle refers to the stages a product undergoes, from its creation to its exit from the market.</li><li>The lifecycle comprises four stages: Introduction, Growth, Maturity, and Decline.</li><li>Each stage presents unique opportunities and challenges, requiring specific strategies for success.</li><li>The Product Lifecycle is vital for organizations to strategize effectively and maximize opportunities at every stage.</li></ul>

The Product Life cycle: Managing Growth and Transitions

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