When you buy a product, it was not created instantly and placed on the shelf. Just like a human being, a product also is considered to have a life. It is born or created with the materials from the company that makes that product. Then it goes through a small infancy stage where it is tested. This would relate to the stage of the product where people learn what it can do and it is safe to be bought and used by the consumers.
Just like products, services also have a cycle of life. They were a mere thought in someone’s head before being carried out and charged for it. The service strategy is one part where the policies and objectives are set and this is the primary concern.
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