Product Life Cycle (PLC) Definition and Explanation PDF Download
Learn Product Life Cycle (PLC) definition in marketing with explanation to study “What is Product Life Cycle (PLC)”. Study product life cycle (plc) explanation with marketing terms to review marketing course for online MBA programs.
Product Life Cycle (PLC) Definition:
Course of a product's sales and profits over its lifetime. It involves five distinct stages: product development, introduction, growth, maturity, and decline.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Product Life Cycle (PLC) Explanation:
Items, similar to individuals, have life cycles. The item life cycle is broken into four phases: presentation, development, development, and decay. This idea is utilized by the executives and by showcasing experts as a factor in choosing when it is fitting to build publicizing, decrease costs, grow to new markets, or overhaul bundling. An item starts with a thought, and inside the bounds of present day business, it isn't probably going to go further until it experiences innovative work and is observed to be practical and possibly productive. By then, the item is delivered, showcased, and took off. The item presentation stage for the most part incorporates a considerable interest in publicizing and an advertising effort concentrated on making shoppers mindful of the item and its advantages.
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