Some aspects of product life cycle are:
- It describes predictable life-cycle patterns so businesses can plan timely marketing actions.
- It explains variations in customer response so firms can revise message strategy.
- It explains shifts in sales performance so managers can schedule manufacturing.
- It explains changes in competitive behaviour so teams can sharpen value proposition.
- It highlights the need for product revision so companies can maintain product relevance.
Also check out related article on characteristics of production life cycle for more information.