Product Life Cycle

Product Life Cycle

product life cycle is the course of a product’s sales and profits over time.

product life cycle(PLC) deals with the life of a product in the market with respect to business or commercial costs and sales measures.

Why a product life cycle?

1. Products have a limited life.

2. Products sales pass through distinct stages, each posing different challenges, opportunities and problems to the seller.

3. Profits rise and fall at different stages of the product life cycle.

4. Products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each life – cycle stages.

TimeProductDevelop-ment

Introduction

Profits

Sales

Growth Maturity Decline

Sales andProfits

Sales and Profits Over the Product’s Lifetime

Product Life Cycle

Summary of Characteristics, Objectives, & Strategies

Introduction Stage of the PLC

Summary of Characteristics, Objectives, & Strategies

Growth Stage of the PLC

Summary of Characteristics, Objectives, & Strategies

Maturity Stage of the PLC

Summary of Characteristics, Objectives, & Strategies

Decline Stage of the PLC

Three special categories of PLC

REFERENCES

• MARKETING MANAGEMENT BY - P. KOTLER, KELLER, KOSHY AND JHA

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