Product Life Cycle (PLC) Stages Flashcards
1
Q
1-Introduction:
A
This phase generally includes a substantial investment in advertising and a marketing campaign focused on making consumers aware of the product and its benefits.
- low sales
- financial lost
- high cost
- innovative consumer
- few competitros
2
Q
2-Growth:
A
If the product is successful, it then moves to the growth stage. This is characterized by growing demand, an increase in production, and expansion in its availability.
- increase sales
- falls cost
- profit rise
- increase no. consumers
- more compittors
3
Q
3-Maturity:
A
This is the most profitable stage, while the costs of producing and marketing decline.
- peack sales
- lowest cost
- high profit
- mass market
- stable no. compittors
4
Q
4-Decline:
A
A product takes on increased competition as other companies emulate its success—sometimes with enhancements or lower prices. The product may lose market share and begin its decline.
- fallng sales
- low cost
- fall profit
- fall no copietitors
