Model Life

Model life refers to the period during which a product, such as a clothing item, electronic device, or vehicle, remains relevant, functional, and in demand before it is replaced or upgraded. It encompasses the development, launch, active use, and eventual phase-out of the product. Factors influencing model life include technological advancements, market trends, consumer preferences, and competitive forces. Understanding a product’s model life helps companies plan for production, inventory, updates, and marketing strategies to maximize its profitability and meet customer needs effectively over time.