The Product Life Cycle PLC as a tool PLC AS A TOOL The Product Life Cycle PLC phenomenon does not operate in a vacuum. It is the marketâ€™s reaction to the product that largely decides when one stage in the life cycle will taper off and the next stage sets in. For example immediately after product launch if the consumers are indifferent to the product and are unwilling to try it out obviously the pioneering stage will get extended. In the maturity stage the consumersâ€™ apathy to the product may... Article On CiteMan.com
PLC operates at 3 Levels
PLC operates at 3 Levels Product Life cycle usually operates at three levels: 1. The product level 2. The product subcategory level 3. The brand level While studying the concept of Product Life Cycle it is essential to understand what the term product signifies/. Let us explain through an illustration. Taking the computer business computer as a product category is in the growth stage in its life cycle. The product category involves all configurations of computers – super computers mainframes mic... Product life cycle
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Market Evolution The Product Life Cycle PLC focuses on what is happening to a particular product or brand rather than on what is happening to the overall market. It yields a productoriented picture rather than a marketoriented picture. Firms need to visualize a marketâ€™s evolutionary path as it is affected by new needs competitors technology channels and other developments. In the course of a productâ€™s or brandâ€™s existence its positioning must change to keep pace with market developments. C... Article On CiteMan.com
Life cycle concept extended to production system
Life cycle concept extended to production system LIFE TO In marketing we have extensively adopted product life cycle approach in...