PLC Homework Help
Simple way to topic comprehension with Product Life Cycle PLC Homework Help
Product life cycle is an important subject which needs a considerable amount of research. If you are losing patience and want to hurry with your assignment, you have come to the right place.Before moving on to Product life cycle with PLC homework help, let us give you a brief narration related to product life cycle.
What is product life cycle?
Product life cycle covers all essential stages of life span of any products. It also looks into product sales and promotion. It covers the stages of introduction, to withdrawal and expiry of said product.
Product life cycle and its details will be explained by our experts of PLC homework help.
Stages of product life cycle
There are four stages of product life cycle, which are discussed by our team of PLC assignment help experts. The stages have been described below:
- Introduction stage:
An organisation develops a certain product and builds awareness about that product. This stage includes branding of that particular product and establishment of quality level. Pricing of the product can be high or low depending on the present market conditions. Selective distribution takes place, and such strategies are adopted to promote the product which will bring in new investors.
- Growth stage:
In this stage,aim of organisations is to build preference over the brands. Support services are added to the product quality. You will find that competition is less at this stage and demand is more. Therefore pricing related to such products is high. More channels of distribution are added. Such promotion strategies are used which will bring in a large audience.
- Maturity stage:
When these product reaches their maturity stage, sale of product starts to come down due to increased competition. Therefore, in this stage, the main focus is to be in present market as well as to earn a profit. As the prices go down, enhancement of such product features takes place to give a product a new shape so that it can attract new customers. In order to increase distribution, incentives are provided. Promotion is done for the purpose of product differentiation.
- Decline stage:
In order to give a boost to the declining sale of the product, a firm has the following options to choose from:
- Rejuvenate the product so that it can find new users.
- Reduce costs and continue to offer it to the loyal customers.
- Selling products to another firm
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