Product Lifecycle Management (PLM) is a highly involved, cross-departmental enterprise that encapsulates the entire "birth-to-death" cycle of a new product in the marketplace. Tools in this category enable business units (development, sales, marketing) to collaborate, streamline and automate around the workflow involved in each stage of product management: introduction, growth, maturity and decline. Tools in this category range from initial ideation and innovation platforms, to "proof-of-concept" product modeling platforms, beta program management, pricing optimization and more. Tools in this category are designed to collect feedback & buy-in from company decision-makers, improve product quality with the lowest cost-per-unit, optimize pricing, and speed a product time-to-market.
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