LIFECYCLE OF PRODUCT
Every product which comes into the market comes with a particular life. The life which i am mentioning is not the expiry date which is labelled in the product. This topic is related to the stages of production which the product undergoes from birth to end of the product. No matter whichever product it may be as for example car, bike, engine, filter or a small cover come with a life. Every product will be remain in market until there is a demand for it. There are basically five stages in a product life cycle. Scratch or Development from Existing Product:- This is the initial stage of a product. The need of the customers is being analysed by various companies of specific field through market research. After analysis, they decide the type of product to be launched in the market. Creation of product is done mainly in two ways ei...