Product Life Cycle, Background Management YouTube Lecture Handouts

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Product Life Cycle

Background

  • Was given by Raymond Vernon.
  • Shows the stages in life of a product.
  • Helpful in understanding marketing strategies to be used during each stage of a product.

PLC Diagram

PLC Diagram

Decoding Each Stage

  • Development Stage: This is stage of actual production of a product.
  • Introduction Stage: Here product is introduced in the market.
  • Growth Stage: Product is now identified by customers and shows growth in sales
  • Maturity Stage: The product sales remain constant.
  • Decline Stage: Here sales and therefore market share of a product starts declining

Chapters

0: 00 Product Life Cycle

0: 18 Background Of Product Life Cycle

0: 59 PLC Diagram

1: 49 Development Stage

2: 09 Introduction Stage

3: 52 Growth Stage

5: 48 Maturity Stage

9: 07 Decline Stage

#ProductLifeCycle #BackgroundOfProductLifeCycle #PLCDiagram #DevelopmentStage #IntroductionStage #GrowthStage #MaturityStage #DeclineStage #testprep

✍ Manishika