Product life cycle Product life cycle is the sequence of stages that a product passes through in its life. Just like human beings have stages in their lives which include: birth, growth, maturity, decline and death a product also passes through different stages in its life. The stages include introduction, growth, maturity and decline. Each stage impacts the market differently leading to a change in the market mix and strategy used to market the product. The life cycle portrays that: The product has a limited life