There are five stages that usually make up the lifecycle of a product: introduction, growth, maturity, decline, and termination.
During introduction, companies typically focus on the success of the product. Maturity is the stage when their focus is to take advantage of momentum and sell as much as possible. Only during maturity or decline do they start worrying about product end-of-life—which
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high demand or bring high profit margins. When it comes to business software, various types of tools can be useful, from project and portfolio management (PPM) solutions, to enterprise marketing management (EMM), business intelligence (BI), enterprise resource planning (ERP), product lifecycle management (PLM), etc. Among these options, PLM is the solution that can offer the most help with the end-of-life of the product, because it offers functionality to track the product through all the phases of its