Buy custom The Product Life Cycle (PLC) and how it is used in marketing
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| Topic: |
Business
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| Number of pages / Number of words: |
2 / 403 |
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The price may product is harvested, or reduced drastically if liquidated.
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A new product progresses through a sequence of stages from introduction to growth, maturity, and decline. This sequence is known as the product life cycle and is associated with changes in the marketing situation, thus impacting the marketing strategy and the marketing mix.
Introduction Stage
In the introduction stage, the firm seeks to build product awareness and develop a market for the product...
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General points of the essay
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