Products go through distinct stages from introduction to decline or demise, according to the product life cycle concept. There are four stages: introduction, growth, maturity, and decline. In the introduction stage, public awareness of the new product is important. The growth stage focuses on advertising to tell consumers the product is better than competitors'. In maturity, sales grow fast then stabilize as most potential buyers have purchased. Finally, the decline stage occurs when sales begin to fall as customers are satisfied or replaced by new innovations. Different marketing strategies are needed at each life cycle stage.

1. PRODUCT LIFE CYCLE
BY SATNAM KAKKAR

2. MEANING
 Product life cycle is the cycle through which
every product goes through from introduction
to withdrawal or eventual demise.
 The product life cycle is an attempt to
recognize distinct stages in sales history of the
product. (philip kotler)

3. The Product Life Cycle Concept is Based on Four
Premises
Products have a
limited life
Profits from a
product
vary at different
stages
in the life cycle
Product sales
pass through
distinct stages,
each with
different
marketing
implications.
Products require
different
strategies at
different
life cycle stages.

4. FOUR STAGES OF PRODUCT
LIFE CYCLE
1. INTRODUCTION
STAGE
2.GROWTH STAGE
3.MATURITY STAGE
4.DECLINE STAGE

5. PRODUCT LIFE CYCLE

6. 1. INTRODUCTION STAGE
This is the stage in which the
product is initially promoted.
Public awareness is very important
to the success of a product. If
people don't know about the
product they won't go out and buy
it.

7. INTRODUCTION STAGE OF THE
PLC

8. 2.GROWTH STAGE
The Growth stage is where your
product starts to grow. In this
stage a very large amount of
money is spent on advertising.
You want to concentrate of telling
the consumer how much better
your product is than your
competitors' products.

9. GROWTH STAGE OF THE
PLC

10. 3.MATURITY STAGE
The third stage in the Product Life
Cycle is the maturity stage. If your
product completes the
Introduction and Growth stages
then it will then spend a great deal
of time in the Maturity stage.
During this stage sales grow at a
very fast rate and then gradually
begin to stabilize.

11. MATURITY STAGE OF THE
PLC

12. 4.DECLINE STAGE
This is the stage in which sales of
your product begin to fall. Either
everyone that wants to has bought
your product or new, more
innovative products have been
created that replace yours.

13. DECLINE STAGE OF THE PLC

14. PLC MARKETING
STRATEGIES
Stage Objective Marketing Strategy
Introduction Awareness & Trial Communicate
Benefits
Growth Usage Of Firm’s Brand Specific Brand Communication,
Lower Prices, Expand
Distribution
Maturity Maintain Market Share Sales Promotion, Drop
Price,
Extend Life Cycle Expand Distribution, New Uses
& New Versions Of Product
Decline Decide What To Do Maintain, Harvest, Or Divest
With Product

15. THANK YOU