 Extending Product Life Cycle StagesGabriel Steinhardt Chapter Chapter 9 in The Product Manager's Toolkit®, 2017, pp 79-86 from Springer Abstract: Abstract The Product Life Cycle Model (PLC Model) is a relatively new theory which identifies the distinct stages affecting sales of a product, from the product's inception until its retirement. Companies that successfully recognize these stages and subsequently apply a custom Marketing Mix (combination of product, pricing, promotion, and place [distribution] activities) at each stage, are able to sustain sales and defend or win market share. By deliberately extending the length of time spent at each of the PLC stages through different tactics, companies are also able to realize much of the revenue potential a product can offer. This chapter introduces the PLC Model, and its merits and faults are addressed. Considerations, ways, and reasons to extend PLC stages are explained. Examples are provided to show how product planning and product marketing strategies can be used at different PLC stages to help establish market dominance and drive sales. This chapter relates to consumers and consumer goods. Consumers are individuals or households that buy and use goods and services created by industries. Keywords: Product Planning; Product Family; Brand Equity; Consumer Segment; Product Market Strategy (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-49998-7_9 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-49998-7_9 Access Statistics for this chapter More chapters in Management for Professionals from Springer |
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