What is the Product Life Cycle?

Answer

The product life cycle (PLC) is used in marketing analysis to identify the different stages of sales of a particular product. These are the stages of the PLC: Introduction, Growth, Maturity, Decline. In the Introduction phase, profits are usually negative or low. More consumers begin using the product during the Growth stage. During Maturity and Decline, more competitors enter the market, and it is necessary for the company to decide whether to harvest the product from its remaining market share or to remove the product from the market.

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About the Product Life Cycle

Product life cycle stands as the keystone of the marketing structure. From the life cycle flows all of marketing. The product life cycle is represented as a simple bell graph that plots product sales over time in a way that provides guidance to a... More »

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Q&A Related to "What is the Product Life Cycle?"

What is Product Life Cycle?

The life cycle of a product tracks its birth into the marketplace, until the product is not longer profitable in the marketplace. Throughout the life cycle, changes in pricing and

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what are product life cycles?

The introduction phase is the launch of the product to consumers. Profit and sales are not a large concern at this stage of the product life cycle and the focus lies more on product

http://www.ehow.com/info_8239688_product-life-cycl...

how to create a product life cycle?

1. Begin the introduction phase by introducing the product to the consumer. Identify the target market specifically. Be sure there is a perceived need or demand for the product. Use

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Where is cigarettes in the product life cycle?

If you smoke, cigarettes are usually consumed throughout the lifecycle. If not, then they aren't part of it at all. That said, cigarettes are commodities and differentiate on a small

http://www.quora.com/Product-Management/Where-is-c...