What does product lifecycle management refer to in fashion merchandising?

Product lifecycle management in fashion merchandising refers to overseeing the product's journey from inception to discontinuation. This concept encompasses all stages a product goes through, including ideation, design, production, distribution, promotion, and ultimately, its decline and discontinuation.

Effective product lifecycle management ensures that every phase is carefully monitored and optimized to maximize profitability and efficiency. By understanding the lifecycle, fashion merchandisers can make informed decisions about product design, inventory management, marketing strategies, and pricing adjustments as trends evolve. This holistic approach helps brands maintain relevance in a competitive market and adapt to changing consumer preferences over time.

Options related to pricing, limiting product variety, or maximizing customer feedback, while important aspects of merchandising, do not encapsulate the comprehensive nature of managing a product throughout all its lifecycle stages.