Product Life Cycle
Product Life Cycle (PLC) is a concept used in space and astronautical engineering to describe the stages that a product goes through from its initial design to its retirement. The four stages of the PLC are: introduction, growth, maturity, and decline. During the introduction stage, the product is developed and tested. In the growth stage, the product is marketed and sales increase rapidly. In the maturity stage, sales growth slows down and the product reaches its peak. Finally, in the decline stage, sales decrease and the product is eventually retired. The PLC concept is important in space and astronautical engineering because it helps engineers and managers to plan and manage the development, production, and retirement of space products and systems.
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