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English definition of “product life cycle management”

product life cycle management

noun [U]     (also PLM) MARKETING, COMMERCE
decisions that are made about a product's appearance, price, advertising, etc. to suit each stage in the product life cycle: Toyota is one of many companies that have embraced product life cycle management as a way to manage a product from the beginning to the end of its life.
(Definition of product life cycle management noun from the Cambridge Business English Dictionary © Cambridge University Press)
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