As an Amazon Associate I earn from qualifying purchases.

What is Product Life Cycle (PLC) in Marketing? 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.

Keep Learning Marketing Explanations

What is Tactical Marketing Plan?

The strategic advertising plan then again, traces how you expect to arrive at the generally key objectives and targets you ...

What is Business Portfolio?

Business portfolio is a set of products and services which are provided by a company to its customers. It describes ...

What is Psychological Pricing?

Psychological valuing is the act of setting costs marginally lower than adjusted numbers, in the conviction that clients don't gather ...

What are Membership Groups?

Gatherings can likewise be characterized based on participation as enrollment gatherings and emblematic gatherings. At the point when an individual ...

What are Internal Databases?

Inside database is any gathering of business information arranged utilizing the inner systems. Interior databases have information in regards to ...

What is Joint Venturing?

Joint endeavors can be casual (a handshake) or formal, and they can be present moment or long haul. Regularly the ...