Product life cycle diagram

This is a product life cycle diagram, which illustrates the various stages a product undergoes from inception to decline. The flowchart delineates critical phases such as data and requirements analysis, product planning and design, and project execution. It further outlines the introduction period, growth phase, maturity period, and recession phase, highlighting the promotion and operation strategies at each stage. This diagram serves as a comprehensive guide to understanding the systematic progression and management of a product throughout its lifecycle.