Plc

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product life cycle

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Plc

  1. 1. P R O D U C T L I F E C Y C L E <br />P repared n presented by PringalSoni, Lecturer Y.I.T Jaipur<br />
  2. 2. Product life cycle (PLC)<br />Like human beings, products also have their own life-cycle. From birth to death human beings pass through various stages e.g. birth, growth, maturity, decline and death. <br />A similar life-cycle is seen in the case of products. <br />The product life cycle goes through multiple <br />phases, involves many professional <br />disciplines, and requires many skills, tools<br /> and processes.<br />Product life cycle (PLC) has to do <br />with the life of a product in the <br />market with respect to business/<br />commercial costs and sales measures. <br />
  3. 3. To say that a product has a life cycle is to assert four things:<br />1. That products have a limited life,<br />2. product sales pass through distinct stages, <br /> each posing different challenges, opportunities, <br /> and problems to the seller.<br />3.Profits rise and fall at different <br /> stages of product life cycle,<br /> 4. products require different <br /> marketing,<br /> financial, <br /> manufacturing,<br /> purchasing, and <br /> human resource strategies <br /> in each life cycle stage.<br />
  4. 4. PLC IS<br />A way to trace the stages of a product's acceptance from its introduction to its demise. <br />One of the most familiar concepts in marketing <br />A prevalent marketing management tool <br />Refers to the life of the product category<br />The time a product category spends in a stage of the product life cycle may vary from a few weeks to decades. <br />Does not predict how long a product category will remain in any one stage <br />A tool to help marketers understand <br />where their product is now <br />what may happen <br />which strategies are normally appropriate<br />
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  7. 7. C. Maturity Stage <br />Sales continue to increase but at a decreasing rate <br />The marketplaceis approaching saturation <br />Annual models of many products <br />An emphasis on product style rather than function <br />Product lines are widened or extended marginal competitors begin <br />dropping out of the market. <br />Heavy promotions to both the dealers and consumers are required. <br />Prices and profits begin to fall. <br />

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