The Six Stages Of The Life Cycle Of Every Product And Services

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There is a definite life cycle of every product and services. PLC is another term of the life cycle of the products, is a model which demonstrates the six diverse stages that a product or service will go through. The PCL illustrates the liveliness of a product from its conception to its ending withdrawal as well as each stage has its own features and differs in length on the basis of the product or service. It is important to recognize the six stages of the product’s life cycle during the introduction of a new product in the market by any company. Because, it needs to take exact marketing activities en every stage with the purpose of having more profit it can.
Sometimes the understanding of PCL can help the businesses realizing the right time to bring in or take out of a product from the market as well as find out whether their product are successful or not.
Like the human life (or the life of any other living being), products and services have a similar limited life.
The product sales vary due to different reasons. They usually go through different and unique stages that pose certain difficulties, challenges and opportunities. The product’s profits also vary. The profits are bound to jump off and go down accordingly during different stages.
Eventually, at every stage of PCL, the companies must
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In the market, a product’s sales and profits alter with time. The method demonstrates from high to low as well as low to high. The product life cycle phenomenon is like the same of human life, from birth, growth to maturity and ultimately to decline. Products just through analysis of marketing, research and improvement and then gets into the marketplace, its life cycle be considered the root. Products out of the marketplace indicates the ending of the life cycle of the products (Gorchels, 2000). There are basically four stages of product life cycle, such as introduction, growth, mature and

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