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
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
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✍ Manishika