Lifecycle Management is a product management process that involves managing a product from its inception to its end-of-life. It involves a series of stages that a product goes through, from development to retirement. The process includes planning, designing, developing, testing, launching, marketing, and supporting the product throughout its lifecycle.
The stages of Lifecycle Management are:
Lifecycle Management provides several benefits, including:
Lifecycle Management is a critical process for product managers, as it ensures that a product meets customer needs, is of high quality, and is profitable. By managing a product throughout its lifecycle, product managers can make data-driven decisions, optimize profitability, and provide a better customer experience.