LIFE CYCLE

Product Life Cycle

[Name of the Institute]

Product Life Cycle

In this paper, I will be discussing the product life cycle concept and implementing it into practical examples of restaurants. There are two basic ways to measure the attractiveness of a market, one is essentially quantitative, and the other incorporates the time factor to establish a relationship with the evolution of demand. This is done through a model called "life cycle of products", which resembles the human life cycle. The life cycle of a product represents different stages of their sales history. There are industrial products where the cycle is large and can be distinguished ...