Life cycle stages refer to the distinct phases that an organism or product goes through from its beginning to its end. For living organisms, these stages typically include birth, growth, maturity, reproduction, and death. Each stage has unique characteristics and functions that contribute to the overall life cycle. In the context of products, life cycle stages encompass development, introduction, growth, maturity, and decline. This framework helps businesses understand how to manage their products effectively, from initial creation to eventual discontinuation, ensuring they meet market demands at each phase.