Life of a product begins as it hits market. Duration of each stage of life cycle differs depending on the social environment, consumer awareness, corportate conditions and so on. In the early industrialization era, as long as a product displays its physical function, its life was almost guaranteed. Companies prospered as they produced more goofs. As long as goods were produced, product life endured. However, as the social environment changed and industry developed, numbers of products with long lives are reduced and stages of life cyle are shortened. As industry continues to progress and consumers need diversify, it has become a pressure upon companies to come up with products with lasting life. Needless to say it requires tremendous amount of investment to keep on producing variety of products that meet the everchanging consumer needs. In this circumstance and in forseeing the future market, package design appears as an important part of marketing tool in maintaining and managing product life cycle. Package design has an ability to make impression on consumers` mind from the introduction stage of a product and to work throughout the product life cycle. If studied and utilized effectively, package design can play an important role in the management of product life cycle.