Product lifecycle is how a product is created, sold, used, and then disposed of.
It starts with creation, where somebody thinks of an idea for a product (like a toy or a food) and starts making it. It then moves to selling, when the product is being sold in stores or online. After that, people buy the product and use it. Finally, after it has been used, the product is disposed of, either by throwing it away or recycling it so that it doesn't hurt the environment.
A product lifecycle is like a circle. It starts at the beginning, when the product is created, and then it keeps going until it is disposed of. The idea is to make sure that the product is created and used safely and responsibly, making sure it doesn't harm people or the environment.