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The definition of a product is "anything that is capable of satisfying customer needs", this includes both physical products, like cars, cell phones, machines, as well as services like banking, and insurance. Businesses manage and modify their products over time so that they constantly meet the changing demands of their customers, the methods used to manage a number of brands and product lines is known as Portfolio Managing. The different stages through which these individual products develop in time in terms of the sales they generate is known as Product Life Cycle. A product life cycle is based on the biological life cycle. For example, when a seed is planted in the soil, it is the introduction phase, then it starts to sprout, which is the growth stage, the next stage is maturity, where it grows leaves and roots, finally after a long period it begins to shrink and eventually dies...

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