Sponsored Meaning: A product, when it is new, advances through an arrangement of stages from incubation to development, maturity, as well as decline. This progression is identified as the product life cycle and is linked with alterations in the marketing condition, consequently affecting the marketing methodology and the marketing mix. Definition: Product Life Cycle is defined as, “the cycle through which every product goes through from introduction to withdrawal or eventual demise.” Image Title: Product Life Cycle Stages The life of most products can be divided into five key stages: a) Development b) Introduction c) Growth d) Maturity e) Decline