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Product Life Cycle (PLC) Gr 8 IEB
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- Institution
Its stages shown on a graph and terminology
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PRODUCT LIFE-CYCLE (PLC) – Its stages“Products have a life cycle. Older, long-established products eventually become less
popular, while in contrast, the demand for new, more modern goods usually increases
quite rapidly after they are launched.”
The product life cycle has 4-5 very clearly defined stages, each with its own
characteristics that mean different things for business that are trying to manage the
life cycle of their particular products.
http://productlifecyclestages.com/
Not all products follow this distinct Product Life Cycle as some products are
introduced and die quickly; others stay in the mature stage for a long time.
A well managed brand could live for ever eg Coca- Cola, Gillette, Sunlight Soap(
launched1891), Lions Matches (launched 1905).
In practice it is difficult to forecast the sales level at each stage of the PLC curve
Source: www.valuebasedmanagement.net www.dymondinstitute.qld.edu.au flylib.com
Philip Kotler and Gary Armstrong (2010) Principles of Marketing (Global and Southern African
Perspectives):Cape Town; Pearson
Sales and profits over the product’s Life from inception to
demise/expiry.
Product development begins when the company finds and develops a new-product
idea. During product development, sales are zero and the company’s investment costs
mount.
Introduction is a period of slow sales growth as the product is introduced in the
market. Introduction takes time. The size of the market for the product is small, which
means sales are low, although they will be increasing
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