Product life-cycle management (marketing)
successive marketing strategies as a product goes through its commericial appeal life-cycle
Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages. The economist Theodore Levitt referred to the concept in a 1965 Harvard Business Review article, where he observed that "most alert and thoughtful senior marketing executives", and even "a handful of uniquely cosmopolitan and up-to-date corporate presidents" were by then "familiar with the concept of the product life cycle" but needed to move forward in using it commercially.
Goals
The goals of product life cycle management (PLM) are to reduce time to market, improve product quality, reduce prototyping costs, identify potential sales opportunities and revenue contributions, maintain and sustain operational serviceability, and reduce environmental impacts at end-of-life. To create successful new products the company must understand its customers, markets and competitors. PLM integrates people, data, processes and business systems. It provides product information for companies and their extended supply chain enterprise. PLM solutions help organizations overcome the increased complexity and engineering challenges of developing new products for the global competitive markets.
Product life cycle
The concept of product life cycle (PLC) concerns the life of a product in the market with respect to business/commercial costs and sales measures. The product life cycle proceeds through several phases, involves many professional disciplines, and requires many skills, tools and processes.
The public source identifies “Product life-cycle management (marketing)” as successive marketing strategies as a product goes through its commericial appeal life-cycle. This brief keeps that definition visible, then builds a research path around Product, life-cycle and management.
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Vocabulary and entity names are the principal evidence signals here, because they determine the precision of every later search. The source revision retrieved here is dated Oct 20, 2025. The linked authority identifier is Q1572577. None of the 0 selected statements returned an explicit reference. The first chronological checks are 1965.
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This entry incorporates text from “Product life-cycle management (marketing)” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.