Global Product Management Talk is pleased to bring you the next episode of... Product Mastery Now with host Chad McAllister, PhD. The podcast is all about helping people involved in innovation and managing products become more successful, grow their careers, and STANDOUT from their peers. About the Episode:  Product lifecycle management is key to successful product development and innovation. This article explores the stages of a product’s life, from launch to retirement, and how they differ across industries and product types. Here are the main takeaways: The classic product lifecycle stages are introduction, growth, maturity, decline, and retirement.For software and SaaS products, development and lifecycle management often overlap.Ongoing customer feedback is vital throughout the product’s life.Teamwork across different departments is crucial for effective lifecycle management.Strategies need to be adapted for different types of products and industries.Innovation is key to extending and improving the product lifecycle. Understanding these ideas and using them well can help product managers handle the complexities of product lifecycle management and drive innovation in their companies.