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Marketing vocabulary · Marketing Mix & Product

Product life cycle

Meaning in marketing, with examples

nounCommon term

In marketing, product life cycle means: The stages a product goes through in the market: introduction, growth, maturity and decline, each with typical sales levels and marketing needs.

In Turkish: ürün yaşam döngüsü, ürün hayat eğrisi

How it is used

A classic textbook model, often shortened to PLC. Marketers say a product is “in the growth stage” or “has reached maturity”. Brands try to extend the life cycle with new versions, pack sizes or uses.

Example sentences

  1. Most of our phone accessories are at the end of their product life cycle.

  2. In the growth stage of the product life cycle, the focus usually moves to distribution.

Common collocations

  • stages of the product life cycle
  • extend the product life cycle
  • maturity stage
  • decline stage
  • launchTo make a new product, service or campaign available to the public for the first time, usually with planned promotion around it.
  • marketing mixThe set of decisions a company makes about its product, price, distribution and promotion in order to reach and win its target customers.
  • early adopterA person or company that starts using a new product, service or technology soon after it appears, before most other people do.
  • go-to-market strategyA plan for bringing a new product to market or entering a new market, covering the target customers, value proposition, pricing, channels and launch activities.

More terms: Marketing Mix & Product

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