Product life cycle is a concept that emerged in the 1980s among large manufacturing corporations such as American Motors Corporation (AMC) and Rockwell. It represents a new way of thinking about the product development process, using a metacognitive framework. Prior to the emergence of product life cycle theory, companies pursued the development of new products based on market research into customer needs and wants, and on a desire to outperform their competitors, but their efforts largely... więcej
Salem Press Encyclopedia, 2021. 4p.