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Essay Details:
Essay text:
Whilst there is a common pattern to a product's life cycle, which is bell-shaped in nature, this pattern does vary depending on the specific characteristics of a given product. These life cycle patterns are illustrated and discussed in the subsequent section.
2. What are the main aspects of the product life cycle?
The typical PLC consists of five main aspects: (1) product development; (2) introduction; (3) growth; (4) maturity; and (5) decline. In the diagram below, the respective sales (in red) and profits (in blue) across these five stages are illustrated.
The PLC begins with product development, during which time the firm devises and creates a new product...
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Common topics in this essay:
- Decline stage of Product
- : Product Economics And Profitability
- A Communications Framework to Evaluate Sales promotion strategy
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- customer profitability
- excessive sales promotion and brand equity
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