explain the concept of product life cycle and house of quality
Ans. Every new product goes through a variety of stages from Introduction to Growth to Maturity and Decline. The whole cycle that is made in the product's life is known as Product Life Cycle. It have four stages that are already mentioned above. It helps businesses in decision making aspects.
House of Quality is a process for Product Development . It is a diagram which resembles a house and shows a relationship between desires of customers and products or capabilities of firms. It relates What the customers wants to how a firm would be meeting those demands.
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Explain the concept of a "Product Life Cycle" and its significance. Answer in 150-200 words
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