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Product life-cycle theory. The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come ...
In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. [1][2] PLM integrates people, data, processes, and business systems and provides a product information ...
The idea of Piktochart was born in 2011 and a minimum viable product began developing. [2] In March 2012, the first iteration of Piktochart was launched by co-founders, Goh Ai Ching and Andrea Zaggia in Penang, Malaysia. [3] By the end of the same year, Piktochart grew its user base to more than 170,000 users and received a $140,000 grant from ...
Product life-cycle management (marketing) A model for the product sales lifecycle, with the assumption of four major phases: introduction, growth, maturity, and decline. Curve of sales as a function of the time of the product on the market. After a plateau in sales at product maturity, a steep decline can follow.
Infogram is a web-based data visualization and infographics platform, created in Riga, Latvia. [1] It allows people to make and share digital charts, infographics and maps. Infogram offers an intuitive WYSIWYG editor that converts users’ data into infographics that can be published, embedded or shared. Users do not need coding skills to use ...
The product life cycle concept consist of 4 stages: introduction, growth, maturity, obsolescence. [11] It outlines the stages the product was first introduced into the market until it is finally removed from the market. The length of the life cycle, duration of each stage and the shape of the curve vary widely for different products.