Products go through distinct stages in their life cycle, from introduction with slow sales and no profits, to a growth period with rapid acceptance and profits, then maturity with slower growth as most potential buyers are reached, and finally decline with falling sales and eroding profits. Companies must employ different strategies for marketing, finance, manufacturing, purchasing, and human resources at each stage of the product life cycle to successfully manage products through their limited lifespan.

1. Product Life Cycle Management

2. • Products have a limited life
• Product sales passes through distinct stages
• Profits rise and fall at different stages of the PLC
• Products require different marketing, financial,
manufacturing , purchasing, and HR strategies in each
stage

3. Stages in product life cycle
1. Introduction: A period of slow sales as the product
is introduced in the market. profits are nonexistent.
2. Growth: A period of rapid market acceptance and
substantial profit improvement
3. Maturity: a period of a slowdown in the sales
growth because the product has achieved
acceptance by most potential buyers
4. Decline : the period when sales show a downward
drift and profits erode