Product lifecycle refers to each stage a product goes through from initial concept to retirement. This includes ideation, design, prototyping, manufacturing, service, and end-of-life management.
A PLM software system is used in manufacturing to manage a product and its associated data through all stages of the product lifecycle. While primarily used by design and engineering teams working with CAD data, a PLM system can provide visibility into the product design process for all business stakeholders.
PDM only focuses on capturing and maintaining information on products through their development and useful life, whereas PLM can manage every aspect of the product through its lifecycle.
Product development software refers to solutions that help with the development of new products. Features might include product road maps, data analysis, a communication tool, task assignment, and bug tracking.