Product life-cycle management (marketing)

This article is about the commercial term to describe the life of a product in the market. For the engineering term, see Product lifecycle.

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.

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