Product Life Cycle As A Strategic Marketing Tool

1.          doorway What convergence Life Cycle is about The output Life Cycle (PLC) is a theoretical concept, which put forrader that any produce idea ordain go by diffe occupy stages from beginning to the end. PLC is typically divided into 4 stages and could be illustrated by a bell-shaped crimp (see figure 1). The stages ar, namely: ·         Introduction ·         Growth ·         Maturity ·         Decline Total gross revenue of the reaping vary in each of the 4 stages. They scrape from zero in the presentation stage to high at maturity and then back to low in moot stage. Profit leave alone not appear until towards the end of submission stage when most of the costs for product development argon recovered. PLC can be used to refer to a product category or industry, a particular product brand, and even fashion, music or fads. Of course one thing we develop to bear in mi nd is that PLC deflect exhibits different shapes and length for each of the above situations. Product categories or industries tend to rent the longest life cycles and their stages of growth and maturity last longer, telling to those of a product brand. As for extreme cases of fads, PLC is short and the curve shows a sharp growth and sharp decline.

In the pursual discussion, we will examine several examples to demonstrate how PLC serves as a effectual trade tool to indicate certain marketing strategies to be adopted for products identified in the respective(a) stages of PLC. 2.         The righteousness of PLC as a useful tool How? As products will bang differe nt characteristics relative to the market an! d competition in the various PLC stages, they call for distinct marketing objectives and strategies in regularize to increase return and optimize efficiency. Looking at the 4 PLC stages: A.         Introduction In this stage, sales are low as a new product... If you want to get a liberal essay, array it on our website: OrderEssay.net

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