Product Life Cycle

1. BY ANULEKSHMI S

2. POINTS OF DISCUSSION
What is a product?
Is product a living thing?
What is PLC?
Why the PLC is important?
How PLC is useful to a marketing
manager?

3. • Item offered for sale
• Service or an item
• Physical or in virtual or cyber form
• anything that can be offered to a market
to satisfy the desire or need of a customer.
• Each product has a useful life after which
it needs replacement, and a life cycle after
which it has to be re-invented.
PRODUCT - MEANING

4. DEFINITION - PLC
According to Philip Kotler,
'The product life cycle is an
attempt to recognize distinct
stages in sales history of the
product'.

5. MEANING - PLC
A product life cycle is the length of time
from a product first being introduced
to consumers until it is removed from
the market. A product’s life cycle is
usually broken down into four stages;
introduction, growth, maturity, and
decline.

6. HISTORY
OF
WATCHES

7. STAGES OF PLC
Once a product is developed, it typically
goes through the four stages of the
product life cycle—from introduction
through decline—before eventually
being retired from the market.

8. STAGES OF PLC

9. IMPORTANCE OF PLC

10. PLC ANALYSIS
A product can be considered a living organism for the
purposes of business planning. Just like other living
beings, a product goes through conception, birth, middle
age, youth and old age. Knowing these stages allows you
to formulate a business plan that will tell you when to
push more advertising, when to order more raw
materials, when to cut back on production and finally
when to pull the product from the shelves and let it die.

11. PLC ANALYSIS
PLC analysis is the process of purposefully examing
a product and making strategic design, pricing, and
marketing decisions to optimize the product for
each stage of its life cycle. Conducting PLC analysis
can help companies determine if their products are
servicing the market they target efficiently so that
they can get a clearer idea of when they might need
to shift focus.