What is the relationship between product life cycle and diffusion of innovation curve?

The product life cycle (PLC) describes the stages a product goes through from introduction to decline, while the diffusion of innovation curve illustrates how different groups of consumers adopt a new product over time. The PLC outlines the market performance and sales trends throughout a product's lifetime, whereas the diffusion curve highlights the adoption rates among innovators, early adopters, early majority, late majority, and laggards. Together, they help businesses understand market dynamics and consumer behavior, guiding marketing strategies and product management throughout a product's life.