Product Life Cycle
1. Introduction
It has been well established that Product Life Cycle (PLC) concept has a significant impact upon business strategy and corporate performance. Since the term was first used by Levitt (1965 ) in an Harvard Business Review article “Exploit the Product Life Cycle” the concept has been widely accepted and applied by marketing practitioners all over the world.
The product life cycle concept is one of the most quoted and most frequently taught elements of marketing theory. According to Mercer (1993: 269) the influence of the product life cycle can be seen in other theories, from new product development, positioning & differentiation and portfolio analysis.
Since its adoption by marketing, the product life cycle (PLC) has achieved universal acceptance because of its appeal and wide application.
According to Weber (1976: 12) the product life cycle concept provides an intuitively appealing and readily understandable framework of analysis for considering future......
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Approximate Pages: 10 (250 words per double-spaced page)
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