product life cycle management
noun[U]
MARKETING,COMMERCEukus(alsoPLM)decisionsthat are made about a product'sappearance,price,advertising, etc. tosuiteachstagein theproductlifecycle:
Toyota is one of manycompaniesthat haveembracedproductlifecyclemanagementas a way tomanageaproductfrom thebeginningto the end ofitslife.