Pharmaceutical Product Life Cycle Management Quiz

Product life cycle management is a systematic approach to managing a product's entire life cycle, from its initial conception and design to its eventual retirement.

The four stages/phases of product life cycle management are: 1) Introduction Phase, 2) Growth Phase, 3) Maturity Phase, and 4) Decline Phase.

The focus of the Introduction Phase is on product design, development, and initial marketing efforts.

<p>The focus of the Growth Phase is on expanding market share and increasing sales.</p> Signup and view all the answers

<p>The focus of the Maturity Phase is on maintaining market share and maximizing profit.</p> Signup and view all the answers