The Product Life Cycle (PLC) is a concept in marketing that describes the various stages a product goes through from its introduction to its eventual withdrawal from the market. The stages of the PLC include:
1. Introduction: The product is launched, and sales grow slowly as the product becomes known.
2. Growth: Sales increase rapidly as the product gains popularity.
3. Maturity: Sales reach a plateau, and the product becomes established in the market.
4. Decline: Sales decline as the product becomes outdated or is replaced by new products.
Understanding the PLC helps businesses develop strategies to manage their products effectively, such as:
- Investing in marketing during the Introduction stage
- Expanding production during the Growth stage
- Maintaining market share during the Maturity stage
- Discontinuing or repositioning the product during the Decline stage
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24 сен 2024
