Define and discuss the product life cycle and apply this to your redefined or new product or service.? Estimate how much time your product will stay in each phase of the lifecycle

Define and discuss the product life cycle and apply this to your redefined or new product or service.  Estimate how much time your product will stay in each phase of the lifecycle and define why you are making this assessment? Draw a representative graph of your product/service lifecycle. Note:  Because of the importance of the visual of the graph, no credit will be given to the discussion board assignment if this is missing. The criteria for responses are as follows:

• Initial post due by day four (Thursday) @ 11:59 PM (EST).
• Your initial response to the discussion question should be 250-300 words. You must have at least one course (our text) and one non-course scholarly/peer reviewed source in your initial posting.  Sources require in-text citations and must be incorporated into the body of the post in addition to a full APA citation at the end of the post.