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The product life cycle represents a series of stages that products--similar to people--go through over the course of their lives. Marketers use their knowledge of the product life cycle to alter their marketing strategies related to specific products. In this video, I'll explain the product life cycle and provide examples of products that fit into each of the stages.
The Product Life Cycle
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product life-cycle managementalanis business academymarketingthe product life cycleproductproduct life cyclesocietal marketing conceptresponse marketing satisfiesterm relationships marketingholistic marketing conceptmarketing strategiesconsumer buying behaviorsuperior customer valuesocially responsive marketingfinished goods commoditiespolitical economist adamadditional video lecturesraw materialsproduct conceptshareholders marketing