• The life cycle in business follows a product from creation to maturity and decline.
  • The life cycle consists of five stages: product development, market entry, growth, maturity, and decline/stability.
  • Other types of business cycles that follow a life cycle type trajectory include business cycles, business cycles, and inventory cycles.
  • Initial capital is often invested during the product development phase.
  • Studying the life cycle of a competitor’s product makes sense.