lifecycle

lifecycle
lifecycle life‧cy‧cle [ˈlaɪfˌsaɪkl-] also life cycle noun [countable] MARKETING
the length of time that people continue to buy a particular type of product:

• the relatively short life cycle of an annual publication of this sort

ˌfamily ˈlifecycle MARKETING
the different stages in people's lives that influence what they buy, used as a way of dividing the consumer market into different groups. Single people, young married people without children, and married people with children are three of these groups:

• Advertisers need to be aware of the stage reached by individuals within the family lifecycle.

ˌproduct ˈlifecycle abbreviation PLC MARKETING
the four stages in the existence of a product: introduction, when development costs and therefore prices are high, and sales are low; growth, when sales rise fast and profits increase; maturity, when sales rise more slowly and weaker competitors leave the market; and decline, when sales and profits fall. The product may eventually be removed from the market:

• Shorter product lifecycles mean that investment in innovation is critical in global competition.


Financial and business terms. 2012.

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