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It is predicted that the MPD will be reduced in the near future.
Product Life Cycle
The course of a product’s sales and profits over its lifetime, involving several stages such as introduction, growth, maturity, and decline.
Maturity Stage
A phase in the product life cycle where growth stabilizes, and sales peak, often leading to increased competition and market saturation.
Product Life Cycle Concept
A framework that outlines the stages a product goes through from introduction to decline, including introduction, growth, maturity, and decline.
Life Cycle Curve
A graphical representation of the stages a product goes through from introduction to decline.
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