Problem: Product Life Cycle
Define and discuss the product life cycle and how this might affect our new product development planning. After reviewing resources and your research, in your own words how would you explain a product's life cycle? As you reflect on the cycle, select a product you personally use and explain how the life cycle affects the development of a new (revised) version of the product for a different market segment and why?
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.