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PRODUCT LIFE
CYCLE
GAYATRI IYER
STAGES OF A PRODUCT
Introduction
Growth
Maturity
Decline
STRATEGIC CONSIDERATIONS IN
PRODUCT LIFE CYCLE CONCEPT
INTRODUCTION STAGE
The marketing strategies are:
Market Skimming- To set a high price
for a new product. E.g.- laptops, D...
GROWTH STAGE
Strategies adopted during growth stage are:
 Make the mass market aware of the brand
benefits
 Improve the ...
MATURITY STAGE
The marketing strategies include:
Creation of Brand loyalty
Promotional activities e.g. Buy 1, Get 1
free...
DECLINE STAGE
Strategies to be considered in this stage:
Reduce the price of the product.
Withdraw the product from the ...
THANK YOU
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Product life cycle management

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The concept of product life cycle (PLC) concerns the life of a product in the market with respect to business/commercial costs and sales measures. The product life cycle proceeds through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. PLC management makes the following three assumptions:[citation needed]

Products have a limited life and thus every product has a life cycle.
Product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller.
Products require different marketing, financing, manufacturing, purchasing, and human resource strategies in each life cycle stage.
Differing products possess different PLC "shapes". A fad product develops as a steep sloped growth stage, a short maturity stage, and a steep sloped decline stage. Products such as Coca-Cola and Pepsi experience growth, but also a constant level of sales over a number of decades. A given product (or products collectively within an industry) may hold a unique PLC shape such that use of typical PLC models are only useful as a rough guide for marketing management.

For specific products, the duration of each PLC stage is unpredictable and it's difficult to detect when maturity or decline has begun.

Published in: Marketing
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Product life cycle management

  1. 1. PRODUCT LIFE CYCLE GAYATRI IYER
  2. 2. STAGES OF A PRODUCT Introduction Growth Maturity Decline
  3. 3. STRATEGIC CONSIDERATIONS IN PRODUCT LIFE CYCLE CONCEPT
  4. 4. INTRODUCTION STAGE The marketing strategies are: Market Skimming- To set a high price for a new product. E.g.- laptops, Digital cameras. Market Penetration- Depth of sales of a particular product in the market. E.g. Tata Nano
  5. 5. GROWTH STAGE Strategies adopted during growth stage are:  Make the mass market aware of the brand benefits  Improve the quality of product  High price and high promotion
  6. 6. MATURITY STAGE The marketing strategies include: Creation of Brand loyalty Promotional activities e.g. Buy 1, Get 1 free! Prevention of Competition
  7. 7. DECLINE STAGE Strategies to be considered in this stage: Reduce the price of the product. Withdraw the product from the market.
  8. 8. THANK YOU

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