Description
Life cycle of the product vary largely and depends upon various factor like product type, innovation, marketing efforts, competitor, etc
Product Life Cycle (PLC)
Introduction
Growth
Maturity
Saturation
Decline
Introduction
• Just like any other living animal product
has also a life cycle. A product comes into
the market, grow there and ultimately
faded away from market.
• Life cycle of the product vary largely and
depends upon various factor like product
type, innovation, marketing efforts,
competitor, etc.
Stages
Introduction
Growth
Maturity
Decline
Introduction Stage
Introduction: This is the stage where product
first come into market.
Features:
Profit: Low/ Nil
Advertising: Heavy
Product Acceptance: Very Low/ Only Innovator
Buys
Competition: Very Low
Growth
Growth: Here product stared to grow in the market.
It acquires new customer and repeat sales makes
the product to expand rapidly
Features:
Profit: Started To increase/ Growing profit
Advertising: High
Product Acceptance Group: Early adopter & early
majority
Competition: Low
Maturity
Maturity: This stage is also known as saturation
stage where market expanding capacity of the
product becomes stagnant.
Features:
Profit: Stabilize Profit
Advertising: Medium To High
Product Acceptance Group: Late Majority
Competition: High
Decline
Decline: This is the last stage of PLC where
product gradually becomes obsolete. New
product is launched to replace them.
Features:
Profit: Lowest
Advertising: High and alternative mode of
promotion like sales promotion, discount
Product Acceptance Group: Laggard
Competition: Intense
Slide prepared by: www.freembanotes.in
doc_580086585.pptx
Life cycle of the product vary largely and depends upon various factor like product type, innovation, marketing efforts, competitor, etc
Product Life Cycle (PLC)
Introduction
Growth
Maturity
Saturation
Decline
Introduction
• Just like any other living animal product
has also a life cycle. A product comes into
the market, grow there and ultimately
faded away from market.
• Life cycle of the product vary largely and
depends upon various factor like product
type, innovation, marketing efforts,
competitor, etc.
Stages
Introduction
Growth
Maturity
Decline
Introduction Stage
Introduction: This is the stage where product
first come into market.
Features:
Profit: Low/ Nil
Advertising: Heavy
Product Acceptance: Very Low/ Only Innovator
Buys
Competition: Very Low
Growth
Growth: Here product stared to grow in the market.
It acquires new customer and repeat sales makes
the product to expand rapidly
Features:
Profit: Started To increase/ Growing profit
Advertising: High
Product Acceptance Group: Early adopter & early
majority
Competition: Low
Maturity
Maturity: This stage is also known as saturation
stage where market expanding capacity of the
product becomes stagnant.
Features:
Profit: Stabilize Profit
Advertising: Medium To High
Product Acceptance Group: Late Majority
Competition: High
Decline
Decline: This is the last stage of PLC where
product gradually becomes obsolete. New
product is launched to replace them.
Features:
Profit: Lowest
Advertising: High and alternative mode of
promotion like sales promotion, discount
Product Acceptance Group: Laggard
Competition: Intense
Slide prepared by: www.freembanotes.in
doc_580086585.pptx