Product life cycle
Product life cycle is spans the time from initial R&D on a product to when customer service and support is no longer offered for that product.
Definitions
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Product life cycle. Spans the time from initial R&D on a product to when customer service and support is no longer offered for that product.
According to the PMI Lexicon of Project Management Terms,
- Product Life Cycle. The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement. See also project life cycle.
According to the ASME EMBOK,
- Product Life Cycle. The stages that products progress through from development to withdrawal from the market.
