life cycle

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Life cycle

The lifetime of a product or business, from its creation to its demise or transformation.

Industry Life Cycle

The period of time from the introduction of an industry to its decline and stagnation. Different analyses posit different stages of an industry life cycle (usually four to five), but all emphasize that an industry has a beginning, with technological innovation; a period of rapid growth; maturity and consolidation; and finally decline and possibly death. For example, in the video cassette recording (VCR) industry, the mid-1970s were a period of decentralized technological innovation, with VHS and Betamax formats vying for dominance. Later, video cassettes very quickly became a common household item. In the maturity phase, different companies selling VCRs attempted to corner a greater market share for their own (identical) versions of the product. Finally, the industry declined and was eventually supplanted by DVD players. An industry life cycle can be prolonged by several factors, including opening new markets to the product, finding new uses for the same product, or even attaining government subsidies. The concept of an industry life cycles applies most readily to the sale of goods and it is difficult to gauge how it works in a service economy.

life cycle

  1. the stage people have reached in their life, from single at home through young parents to solitary retired. See SOCIOECONOMIC GROUP, BUYER BEHAVIOUR.

life cycle

The various phases of a project—predevelopment, development, leasing, operating, and rehabilitation.

References in periodicals archive ?
Successful implementation of effective life cycle management policies--particularly in view of the fact similar initiatives in earlier decades often lacked strong enforcement mechanisms, requisite funding, long-term management commitment, or for a variety of other reasons, failed to deliver desired cost and readiness improvements--requires not only strong policies, but just as importantly entails an innovative logistics workforce with unparalleled knowledge, skills, abilities, creativity, and interdisciplinary insights to achieve desired sustainment outcomes in an increasingly resource-constrained environment.
This same short life cycle is anticipated in younger new generation storage systems.
An estimated 10 percent of IHEs now utilize some form of life cycle planning for capital renewal.
The product life cycle illustrates the need for products to be reviewed, rearranged, redesigned, repackaged, renamed, or even retired.
This is the first time the life cycle of any organism from the Precambrian, or the earliest 2.
recognize the relationship among the elements of the program life cycle
Oil prices emerged as the variable with the largest impact on life cycle cost in this study.
3) In the life cycle of a product, the product's environmental impact is thought to be higher during usage than during manufacturing.
SAND extends the product life cycle of Internet and storage networking platforms for up to ten years.
By incorporating tracking systems for customers & contracts and for the according service topology & configuration into its sophisticated SLM system, Sirius has streamlined the entire service production process throughout the whole real-world contract life cycle, from incoming order to contract termination.
In bringing products to market faster, new product developers raise the probability of commanding premium prices, and can expand product life cycles time by as much as fifty percent.
Said Gupta, "In an industry faced with product life cycles 'on Internet Time,' and an insatiable demand for gigaflops and multimedia functionality at mass market prices, the opportunity for manufacturers to create the core functionality for unique, competitive, highly-differentiated, high-performance products - simply by writing or re-using software - is a Godsend.