Product Life Cycle

Posted in Marketing and Strategy Terms, Total Reads: 801

Definition: Product Life Cycle

It is sequence of stages that a new product that is introduced into the market goes through from its growth to its decline in accordance with the industry and market changes. Each stage of the PLC is fixed and fairly precise and one stage follows the other in an immutable and irreversible sequence.

The PLC is analyzed for decisions related to revenue, profits, management structure and future investments.

The PLC can be explained as given below,


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