The Life Cycle concept refers to the stages that a product, service, or entity goes through from its inception to its termination or end. These stages typically include introduction, growth, maturity, decline, and sometimes re-introduction or replacement. Understanding the life cycle of a product or service is vital for strategic planning, resource allocation, and decision-making in areas such as marketing, product development, and investment. Professionals across various industries utilize this concept, including product managers, marketers, business analysts, and executives. The template featuring six options and a red color scheme provides a visually appealing representation of the different stages in a life cycle.