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Communication Tools in Different Stages of Product Life-cycle |
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15. maj 2003 |
The product life cycle (PLC) is a generalized model of the sales history of a given product category over a long period of time. The concept holds that the product's sales change over time in a predictable way and that products go through a series of five distinct stages: introduction, growth, shakeout, maturity, ana decline (Walker et al., 1992). In reality of today's highly competitve world, where most markets are saturated, almost all products seem to be in mature or declining phase. We can say life cycle is really about getting old, and product managers seem to have the same concerns as most of the people, that is how to stay attractive when getting older!
Read the full article, based on lecture at Lek Marketing Conference, Sorrento, April, 2003.
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