Which term describes the stages a product goes through in its life cycle?

The term that accurately describes the stages a product goes through in its life cycle is the product life cycle. This concept refers to the progression of a product from its initial development and introduction to the market, through its growth and maturity phases, and ultimately to its decline and potential discontinuation.

The product life cycle typically includes four main stages: introduction, growth, maturity, and decline. Each stage presents unique challenges and opportunities for marketers, influencing strategies related to promotion, pricing, and distribution. Understanding the product life cycle helps businesses make informed decisions regarding inventory management, marketing expenditures, and possibly the timing of product improvements or new launches.

Other options like supply chain management, consumer behavior analysis, and market segmentation, while relevant to marketing practices, do not specifically pertain to the stages of a product's existence in the market. Supply chain management focuses on the flow of goods and services, consumer behavior analysis looks at how consumers make purchasing decisions, and market segmentation involves dividing a target market into subsets of consumers. These concepts serve different aspects of marketing strategy rather than detailing the evolution of a product through its lifespan.